Delaware is on the verge of enacting legislation intended to facilitate the use of blockchain technology for corporate record keeping, after the measure sailed through both chambers of the state’s General Assembly.
The state’s House, in a 40-1 vote on June 30, passed proposed amendments to Delaware’s General Corporation Law (SB 69) that would provide a framework for how companies incorporated in the state can use blockchain, or “distributed ledger” technology.
Corporate governance attorneys have suggested that the technology may help companies keep better track of who owns their shares and proxy voting results.
The proposal, which earlier this month was unanimously passed by the state’s Senate, is expected to be signed into law by Gov. John Carney (D). Carney has around 10 days under state law to sign the legislation. His office didn’t immediately respond to a request for comment.
If signed into law, the amendments will be effective Aug. 1.