Delaware Reaffirms Blockchain Technology for Tracking Stock Owners

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After a Delaware court (USA) ordered David Murdoch to pay 2.74 after privatizationdollars per share, lawyers filed an application to shareholders for 49 million shares, although the company issued 36.7 million.

This problem arose back in the 60s, whenThe New York Stock Exchange created the Depository Trust Company (DTC) because it was unable to monitor and track shareholders due to high trading volume.

The broker sold shares and transmitted data onselling DTC without informing who their owners are. If the company wanted to know the name of its shareholder (for example, to determine dividend payments), it had to be given a DTC request, in turn, the DTC sent a request to the broker and then the broker checked who really owns the shares.

Inconsistency in the number of shares in the case of the companyDole, due to the fact that due to short sales, stocks were counted twice, as a result of which, it took a lot of time to deal with this situation.

After which, Congress and the Security Commissionand the exchange turned to distributed ledger technology, which offers a potential technological solution by maintaining multiple running copies of a single and comprehensive share ledger.

In the end, the government allowed corporations to conductShareholder lists using blockchain technology to quickly and easily identify all of their shareholders. Thanks to this, more than a million enterprises got the opportunity to simply track stock ownership through the blockchain.

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