Delaware is looking to use Blockchain technology in a bid to cut down the cost and paperwork burden of registering new companies in the state.
Before any companies starts registering via Blockchain, there will be deliberations with the state’s bar association and might be passed to state law.
The bill was introduced by introduced in May of this year and approved by Senate earlier this month.
Local lawyer Matthew O’Toole, Chair of the Corporate Law Section of the Delaware Bar Association believed long-planned Blockchain amendments won’t be overlooked.
Matthew O’Toole expressed:
“A couple of high-profile issues are basically going to be tabled until next year because they’ve got bigger fish to fry. But the corporate bills are important, everybody recognizes that, and I’m assured that they will be voted on and they will pass.”
The vote will be expected later today which will be the final step before the State of Governor, John Carney sign the bill into law. This will complete the process which started last year when it was pushed to embrace Blockchain innovation.
O’Toole said he is expecting that the Governor will sign the bill into law by the end of July with legislation going by August 1, 2017.