TIDBIT: DELAWARE UNITES BLOCKCHAIN AND STOCK TRADING

July 12, 2017 / Joseph P. Farrell /

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

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".

8 Comments

goshawks on July 13, 2017 at 4:50 am

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?
OrigensChild on July 12, 2017 at 5:53 pm

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.
Robert Barricklow on July 12, 2017 at 2:51 pm

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.
- Robert Barricklow on July 12, 2017 at 2:52 pm
  
  When something is too good to be true;
  it general is the case.
marcos toledo on July 12, 2017 at 11:46 am

Delaware becomes a new state where the Wall Street sharks can practice creative accounting and cooking the books going digital keeping up with Jones..
Phil the Thrill on July 12, 2017 at 9:49 am

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.
basta on July 12, 2017 at 5:38 am

Ah, Delaware! The US’s very own Cayman Islands, just without the palms.
- OrigensChild on July 12, 2017 at 2:39 pm
  
  Basta, eloquently stated. You and I were thinking along similar lines. Bravo!