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https://newmedialaw.proskauer.com/2017/08/02/delaware-authorizes-stocks-on-blockchain/ https://newmedialaw.proskauer.com/2017/08/02/delaware-author...
by omarchowdhury 9y ago
https://newmedialaw.proskauer.com/2017/08/02/delaware-authorizes-stocks-on-blockchain/ https://newmedialaw.proskauer.com/2017/08/02/delaware-author...
- toomuchtodo 9y agoI stand corrected when scoped to Delaware corporate entity law. "Not just any blockchain-based ledger, however, will suffice. For one, electronic corporate records must be capable of being converted into legible paper form within a reasonable time. Second, like all other Delaware stock ledgers, a blockchain ledger must be able to (i) be used to prepare a list of stockholders entitled to vote, (ii) record information required by the DGCL to be maintained in the ledger and (iii) record transfers of stock pursuant to Article 8 of the Delaware Uniform Commercial Code." So a blockchain or distributed ledger technology can be used, but it could just as easily be done using a relational database or paper records.