TIDBIT: DELAWARE UNITES BLOCKCHAIN AND STOCK TRADING
July 12, 2017 / /
Oh... don't worry about little things like flash crashes... Delaware has the solution! Think PROMIS, folks...
Delaware Assembly Passes "Historic" Law Legalizing Blockchain-Based Stock Trades
Help the Community Grow
Please understand a donation is a gift and does not confer membership or license to audiobooks. To become a paid member, visit member registration.
From article: “…private-share trading was particularly ripe for disruption because of the heavy volume of paperwork involved in recording and settling the transactions. …the measure should pave the way for US companies … to begin listing shares on blockchain-based distributed ledgers.”
Why does this seem akin to the situation where mortgage holders could never find out WHO held legally their paper, because it had been electronically ‘sold-on’ many times without any review?
Delaware? If you dig into the history of slavery in this country you will find a few unsettling facts regarding slavery, Massachusetts (and Delaware), New York, New Jersey, Connecticut and Virginia. All you really need to do is start with a good timeline and walk through the history very, very carefully. It doesn’t surprise me this is starting here. I expect to see this spread to neighboring states in a similar order now that Delaware has made the first move.
On the surface it looks good; cutting out the middlemen.
But when you consider software can be breached[PROMIS, among other scenarios], perhaps there is something other than just simple contract agreements without exorbitant charges.
When something is too good to be true;
it general is the case.
Delaware becomes a new state where the Wall Street sharks can practice creative accounting and cooking the books going digital keeping up with Jones..
So, the chairman of the “corporate law” department of the Delaware British Accreditation Regency association says that he looks forward to assisting Delaware corporations in making use of this “amalgamation of law and technology.”
It is no wonder that Sir Francis Bacon said “First thing we do, let’s kill all the lawyers,” or that Jesus rebuked them for hiding the truth from mankind. Only a total eh hole would think a mashup of “law” and “technology” is a good thing.
Ah, Delaware! The US’s very own Cayman Islands, just without the palms.
Basta, eloquently stated. You and I were thinking along similar lines. Bravo!