Delaware, Symbiont Establish Blockchain Initiative for Delaware-Inc. Businesses

The governor of the US State of Delaware, Jack Markell, unveiled today the establishment of the Delaware Blockchain Initiative, a suite of programs encouraging expanded use and development of distributed ledger and smart contract technologies by Delaware-incorporated businesses.

Delaware is working with Symbiont, the first company to launch a digital security on blockchain technology, to develop the technical aspects of the Initiative. US law firm, Pillsbury Winthrop Shaw Pittman LLP is developing the legal infrastructure.

Governor Markell commented:

“Delaware has long been the jurisdiction of choice for the most innovative companies in the world. 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.”

Mark Smith, CEO of Symbiont, added:

“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, leader of Pillsbury’s Blockchain Technology focus team, noted:

“We are 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 further reveal details of the Delaware Blockchain Initiative in a keynote presentation at the Consensus 2016 conference in New York City on 2 May 2016.

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