IBM has been awarded the $738,000 contract by the State of Delaware in order to create a blockchain technology based filing system for the businesses registered in the state.
Delaware is one of the hubs for businesses in the United States. With over a million businesses registered in the state, over 60 percent of the Fortune 500 companies are based in Delaware. Leveraging the power of blockchain technology to automate the filing process for corporations registered in the state will make a lot of cuts when it comes to the manual labor which goes into the filing and processing of the registration requests.
Second Major Deal for IBM
Having secured the contract given to them by the Governor of Delaware, this makes it the second major contract that IBM is undertaking when it comes to the blockchain technology based development for government bodies. The first project that they secured was with the Australian Government. That contract is valued at a billion Australian dollars aiming to help Australia in its bid to become one of the leading technologically advanced governments by 2025.
Delaware has Slowed Down
The former Governor of Delaware, Jack Markell announced the new initiative to make blockchain technology come in to improve the manual tasks in governmental procedures. In fact, one of the first ever blockchain based projects will use the power of blockchain technology to add all the public archives of the state to a blockchain network in order to make it easier for public access and also to make the records more secure.
IBM was paid in order to carry out this project but the deal never really followed through. The archive is still being left for want as the new Governor of Delaware, John Carney seemed to be slowing down the projects right now.
Government to Support Blockchain Initiatives
After what seemed like the project has been cancelled by the Delaware government, the state made the announcement that it will be allowing companies to utilize blockchain based
platforms for keeping their corporate records. It will allow the companies to have pristine records of the shareholders they have and the votes they will be casting during elections in companies.
In light of the contract being signed, there is a renewed sense of modernizing government to support blockchain technology initiatives to take the state forward with an increased fervor.