The State of Delaware has launched an initiative to embrace blockchain technology. “Smart contracts offer a powerful and innovative way to streamline cumbersome back-office procedures, lower transactional costs for consumers and businesses, and manage and reduce risk,” said Governor Jack Markell. “We’re delighted that Delaware has this opportunity to help lead the way in promoting blockchain technology and its growing role in digital commerce.”
Blockchain-based smart contracts will digitize records to autonomously update, delete, share or be acted upon when specific conditions are met, like expirations. Delaware has also begun exploring its own use cases for blockchain technology. Symbiont, a distributed ledger and smart securities startup, is working with the Delaware Public Archives to store state archival records on a distributed ledger.
[Image courtesy: Delaware State Government]