Delaware Digs Into Blockchain’s Tech

The state whose claim to fame is being the first state in the Union in 1787 might soon get a little more tech-savvy.

Delaware, a state also known for incorporating most public companies, is eyeing the blockchain. Although this is still in the experimentation stage — as are most blockchain tests — the state is determining how this technology could be used to move its paperwork more efficiently.

“This is something we’re very interested in,” Delaware Governor Jack Markell said in an interview with The Wall Street Journal. “We think the benefits could really be tremendous.”

He cited the possibility of having a competitive advantage if the state jumps on the blockchain bandwagon fast in order to make the state’s operations move faster. It could also give the state an advantage in getting more FinTech businesses to settle there, he said.

He’s gone as far as having the state’s bar association test how this could be incorporated into the legislature in a way that helps get the state’s records onto a blockchain. It’s also being explored as an opportunity for any computer to have access to necessary state data that is often segmented between specific departments. That would play into the efficiency angle, allowing data to move faster between servers.

But, for now, it’s all under unofficial legal review. State leaders must now take the necessary steps to test out the system and see how and if it could actually be implemented.

“We’re at the beginning of the process,” Matthew O’Toole, a lawyer and chairman of the committee under the bar association, told WSJ.