Delaware and the Great Blockchain Experiment

Delaware is one of the smallest states in the U.S. and doubles as the unofficial financial headquarters of North America. It is this latter feather in its cap that has encouraged the tiny state to incorporate blockchain technology into record keeping and stock trading - a trailblazing step.

Dubbed the Delaware Blockchain Initiative, the experiment is a groundbreaking action that seeks to embrace the smart contracts of the blockchain technology. This is an area that has remained a preserve of independent teams of programmers in peer-to-peer blockchain platforms such as Etherecash.

The Initiative and the Law

The state ratified the Initiative through the Delaware General Corporation Law (DGCL), a radical amendment to Title 8 of the state’s code that governs general corporate law. This action, in essence, legitimized any blockchain-based transactions in both the civil and corporate domains.

Why Is this Initiative a Timely Action?

About two-thirds of the Fortune 500 companies are incorporated in Delaware., and almost 85% of Initial Public Offerings in the U.S. are based out of the diminutive state; most probably because of Delaware’s well-defined structure of corporate finance law.. The Initiative includes a series of trials to incorporate smart contracts in settling financial and stock transactions faster.

The Initiative presents a possibility to make financial transactions flawless. At the moment, security transactions aren’t instantaneous; and the process is even disjointed because incorporation and issuance of shares are two different steps. This is time-consuming and expensive. The Delaware Blockchain Initiative believes that by using smart contracts, the two processes can happen automatically and be enjoined in the end.

The Delaware Blockchain Initiative holds the key to streamlining operations in the financial industry. Wall Street, for instance, is in need of a dire technological makeover.. Financial institutions that all seem to have glitzy and up to date customer-facing applications, like the numerous now-all-so-familiar banking apps, are dying under the weight of back-office processes executed using inefficient, outdated and time-consuming systems.

The Delaware Blockchain Initiative now makes it possible for banks to manage more transactions faster and easier, and spend way less to boot.

Why Delaware and This Initiative Are So Important

Delaware is keen to maintain its position as the leading destination for companies seeking incorporation. Its body of corporate financial laws and the necessary amendment. to allow corporations to use networks of electronic databases are a good testimony to this. However, the changing financial landscape requires a lot more than just Delaware’s current modern laws.

The little state took the trailblazing step because most of its customers are businesses and, it has a Corporation Law Council, which is a sitting committee of legal advisers that ensure that the laws of the state are in tandem with the innovations that influence the financial environment.. Because of the natural role of blockchain technology in record keeping, the government’s most basic function, incorporating the applications of the technology to state functions was only a matter of time.

What Is the Relevance of Etherecash?

The blockchain technology allows for limitless applications that solve daily-life situations. Access to loans is essential, and peer-to-peer lending holds the power to change the micro-financial lending landscape and ease the process of procuring loans.

This is why you should participate in Etherecash’s ICO. Be in the driver’s seat when it comes to the future of lending by investing in that future today.

Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit <a href="http:// Etherecash.io>Etherecash.io.