On Tuesday, Delaware Governor Jack Markell announced the creation of the Delaware Blockchain Initiative, a series of programs designed to foster expanded use and development of distributed ledger and smart contract technologies by state-incorporated companies.
The state is collaborating with smart contracts firm Symbiont on the technical aspects of the Initiative. Pillsbury Winthrop Shaw Pittman LLP, a prominent blockchain technology legal firm, is developing the legal infrastructure.
“Delaware has long been the jurisdiction of choice for the most innovative companies in the world,” said Governor Markell in a press release. “The Delaware Blockchain Initiative demonstrates the state’s commitment to ensuring this remains the case for the growing blockchain technology sector. By creating the opportunity for a broad range of corporations – from Fortune 500 companies to startups – to take advantage of distributed ledger and smart contract applications, we are laying the groundwork for a more modern, secure and transparent business environment for years to come.”
The state plans to work closely with its technology and legal ambassadors to ensure a smooth implementation of the Initiative.
Symbiont CEO Mark Smith said in the press release, “It is our mission at Symbiont to work with market-leading institutions and we are delighted to work with The State of Delaware. Given its leadership position in incorporation services, it’s an ideal proving ground for smart contracts.”
Marco Santori, the head of Pillsbury’s Blockchain Technology focus team, said in the press release that the firm is “honored to be chosen as Delaware’s legal ambassadors to the blockchain industry. The Delaware Blockchain initiative presents a tremendous opportunity for our attorneys to apply their deep experience in distributed ledgers to do true social and economic good.”
Governor Markell will release details of the Initiative on May 2 in the opening keynote presentation at the Consensus 2016 blockchain summit in New York City.
Featured image (Delaware flag) – Public domain image
Governor Markell’s photo – John D. (Jay) Rockefeller IV (Source: Commerce Committee Hearing on Building a Public Safety Communications Network) (CC BY 2.0)
Symbiont CEO Mark Smith’s photo – Courtesy of The Block Chain Conference via MassingWorks