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As an attorney, I can tell you I have spent countless hours simply verifying that cap tables/spreadsheets are accurately tied to the underlying capitalization d
by mvnsnp 10y ago
As an attorney, I can tell you I have spent countless hours simply verifying that cap tables/spreadsheets are accurately tied to the underlying capitalization documents in connection with VC financings and M&A deals. If this process was reliably automated, thousands of dollars in legal fees could be saved on a given transaction.
- amluto 10y agoSo ISTM what you want is a log of all underlying documents along with some machine-readable format for these documents so you can aggregate them into a cap table. Using a blockchain for the log would work, but so would any other means of checkpointing the thing periodically and verifying that the audit log is really append-only. IMO the real benefit of a blockchain is that an owner of some interest in a company could plausibly validate that their interest is actually logged in the source data for the cap table. But this would depend on having some way for the owner to know the current blockchain head, and this isn't going to happen by magic.