MUST READ for Corporate/Securities Lawyers Regarding Blockchain

Delaware Chancery Court Judge J. Travis Laster makes the crystal-clear case for why the securities industry should embrace blockchain in this terrific speech. He shares my concern for the securities industry’s plumbing mess that prevents people from actually owning the securities we think we own, and he lays out the gaps between Delaware corporate law and federal securities law that have caused some very expensive balls to drop.

In Judge Laster’s words, “The good news is that you have a plunger that you can use to clean up the plumbing. That plunger is distributed ledger technologies, the technology that underlies bitcoin.”

“The current system works poorly and harms shareholders…These technologies could reunite legal and beneficial ownership of stock and eliminate many of the problems identified [in his speech].”

INDEED, Judge Laster!!! Well done!!!

http://www.cii.org/files/09_29_16_laster_remarks.pdf