The Delaware  Board of Trade revisited

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Rainey
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Good morning,

I’ll admit to having my eyes glazing over when it comes to  blockchain, bitcoin,  cyber currency and now digital currency.

Digital currency was the term used in describing the investment by Canadian company Hyperion in the Delaware Board of Trade.

News of the  investment came with minimal details, other than the CEO of Hyperion becoming president of the Board of Trade. The Hyperion website offers little additional insight. 

Digital currency is used to describe the use of blockchain technology to handle transactions electronically and instantaneously across national boundaries.

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The State of Delaware has championed blockchain as a   way to safely move around incorporation and other documents. Blockchain  also has potential in dealing with  the mounds of documents handled by the banking industry.

The exchange did score a coup when the  Securities and Exchange Commission granted the Delaware Board of Trade authorization to use new technology.

Still, the SEC is wary of digital currency, cryptocurrency etc and the potential for fraud and manipulation that is commonplace in the penny stock market.

The regulatory body has issued more than one warning about cryptocurrency schemes that seem to be moving into the retirement market. This is scary stuff.

The Board of Trade is accustomed to controversy. Its opening was delayed and dreams of a mini-Wall Street in downtown Wilmington have not been realized. 

There is also the matter of a  questionable loan that reportedly came from a New Castle County park fund,  as well as a previous investment from a Chinese company that now seems to be moving in another direction with a deal in Connecticut.

So far, the State of Delaware has stayed away from offering support,  despite its interest in blockchain. 

Here’s some unsolicited advice from a county taxpayer – The Board of Trade should tap into or raise equity and repay the loan.

Enjoy this beautiful day and have a great weekend. The newsletter returns on Monday. – Doug Rainey, publisher. 

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