On March 13, 2017, the Delaware Corporate Law Council announced proposed amendments to the Delaware General Corporation Law that would provide specific statutory authority for Delaware corporations to use networks of electronic databases (such as distributed ledgers) to create and administer corporate records. The proposed amendments, if enacted, would enable Delaware corporations to use a distributed ledger, in lieu of a traditional stock ledger, to record and transfer record ownership of shares of stock.
These proposed changes are part of the Delaware Blockchain Initiative.
Read about the initiative and the proposed amendments on the Harvard Corporate Governance Blog here:
Delaware Blockchain Initiative: Transforming the Foundational Infrastructure of Corporate Finance
The First Block in the Chain: Proposed Amendments to the DGCL Pave the Way for Distributed Ledgers and Beyond
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