snIP/ITs Insights on Canadian Technology and Intellectual Property Law

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A Canadian Perspective: Proposed Amendments to Delaware’s General Corporation Law Would Enable Use of Blockchain

Posted in Fintech, Regulatory Compliance

On March 13, 2017, the Council of the Corporation Law Section of the Delaware State Bar Association released proposed legislation that would amend Title 8 of Delaware’s General Corporation Law (DGCL) to permit Delaware corporations to use blockchain technology to create and manage corporate records.

Currently, stock ledgers in Delaware corporations are typically maintained by a corporate secretary or transfer agent, who manually updates the ledger upon receipt of notification of a transfer of share ownership. The proposed amendments would permit Delaware corporations to use electronic networks or databases, such as distributed ledgers, to administer corporate records and track share … Continue Reading