Officials of the US state of Wyoming proposed a law that would allow issuing certificates for tokenized shares of enterprises, instead of traditional documents, as was reported by the CoinDesk news agency.
On Wednesday, January 16th, Jared Olsen (Republican Party), along with Senator Chris Rothfuss (Democratic Party) and six other Republican representatives jointly submitted a bill called Corporate stock-certificate tokens, bill 0185. The bill is a legal amendment that would allow the use of digital shares instead of paper versions.
"In the charter of a corporation or the company’s regulations, it can be stated that all or part of the shares of a corporation (company) may be represented by tokens of shares" – from the bill "Corporate exchange certificates-tokens".
Tokenized certificates and law
HB0185, if adopted, will allow you to store certificates of ownership of shares in electronic format. At the same time, the documentary basis for verifying the compliance of stocks and owners will also be transferred to the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details. After the transfer, according to the bill, all information will be transferred electronically to the issuing corporation, to the person (to whom the tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details certificate was issued) or to another recipient.
Tokenized certificates will also be authorized via network signatures (unique identifying hashes) of employees or corporate management. If the bill is confirmed and collects the required number of votes, then we can expect that it will come into force on July 1, 2019.
In Wyoming, a legislative project was proposed on tokenization of share certificates – this is not the first law that supports the introduction of the blockchain. Recall that last week the state approved a bill that allows blockchain startups to work within the regulatory framework to vote at the legislative level.
Editor: Pereyidenko Ihor