IBM Bags $738,000 Contract to Develop Prototype Blockchain Filing System For Delaware

IBM Bags $738,000 Contract to Develop Prototype Blockchain Filing System For Delaware

Delaware while trying to provide a good legal and regulatory environment for blockchain technology, has awarded a $738,000, single bid contract to IBM to build a prototype for a blockchain based corporate filing system for the state, according to delawareonline.com.

Blockchain advocates in Delaware claim the technology’s safety will enable the state to levy higher document filing fees, and that Delaware will surpass other states in business registration activity.

Former Gov. Jack Markell told startups and investors at a New York City conference in 2016 that blockchain could free up billions of dollars by speeding up asset exchange, removing technical procedures and curtailing business risks.

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