Delaware to test of a blockchain-based business filing system

More than half of all U.S. publicly-traded companies – and two-thirds of Fortune 500 firms – are incorporated in Delaware because of its business-friendly laws and well-established corporate legal precedence.The state, which doesn’t have a sales tax, gets nearly one-third of its revenue from franchise taxes on more than a million corporate entities, accounting for $1.3 billion of its $4.2 billion general coffer. Making incorporating in the state more attractive is seen as a money maker and competitive advantage against other states.To that end, Delaware in October plans to launch a proof-of-concept for a blockchain-based business filing system that will allow corporations to take advantage of smart contract technology to automatically track stocks and collateral assets in real time; being able to do so will give lenders and borrowers a more efficient and accurate record with which to transact business and meet state and federal regulations.To read this article in


Original URL: https://www.computerworld.com/article/3289484/blockchain/delaware-to-test-of-a-blockchain-based-business-filing-system.html#tk.rss_all

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