Representatives in Wyoming have introduced a bill that would allow company shares to be issued and recorded on blockchain technology.
House Bill 0185, Corporate Stock-Certificate Tokens, is a cross-party bill put forth by Republican and Democrat representatives in Wyoming. If passed, it would allow stock certificates to be stored digitally on the blockchain rather than paper certificates.
“The articles of incorporation or bylaws of a corporation may specify that all or a portion of the shares of the corporation may be represented by share certificates in the form of certificate tokens.”
Already on the DX.Exchange platform in Europe, you can trade tokens that represent shares in Nasdaq-listed companies. The tokens can also represent a fractional ownership in the the stocks and are backed by real shares held by the exchange’s partner.
The proposal by Wyoming lawmakers would be a significant step further, allowing direct tokenized ownership of shares, issued by the company itself.
The bill proposes a date of July 1, 2019 to enter into effect.