The California 838 bill is progressing smoothly. Corporate equity information will be recorded on the block chain.
California is likely to allow companies to use block-chain technology to manage data, including corporate shareholder information, after Delaware State and Wyoming State. In January this year, California Senate Senator Robert Hertzberg submitted a bill No. 838 designed to allow companies to record and preserve information on one or more distributed electronic networks through block-chain technology, such as all corporate shareholders ' registered shares, corporate registries, the number of shares,
As well as the distribution and transfer of corporate equity. At this stage, the bill was approved by the California Senate Banking and Financial Institutions Committee, and was submitted to the California Judicial Council on April 18. Next, the Senate will vote on the bill if it can get approval from the Judicial Council.
As long as the vote is passed, Californian companies can legitimately identify and store corporate ownership information on the block chain, including company title. In fact, California attaches great importance to financial science and technology innovation, according to Robert Hertzberg in a statement: "The world is changing rapidly, so the California government must adapt to this era quickly, and continue to maintain the tradition of new technology, especially such as the block chain of new technology, The technology is being embraced globally and provides powerful security against hacker attacks. "In addition, the California bill also contains a number of provisions, including the data must be converted within a reasonable period of time into a clear and readable form, and can be based on the form of this article to store the existing stock certificate information." According to relevant legislation, relevant data must be recorded and stored on one or more distributed electronic networks based on block chain technology.