This Delaware Blog post describes Delaware Governor Jack Markell's recently vocalized support of blockchain technology for distributed ledger shares that could be accommodated with changes to Delaware and other relevant federal laws and resolution of certain technical challenges. Although unlikely to be effected any time soon due to the real world impediments that will take time to address and resolve, the Governor has already given his support to amend Delaware law as part of the broader "Delaware Blockchain Initiative." The post notes:
The difference between a blockchain and a traditional database is that the ledger is “distributed.” That is, each party on the network maintains a complete copy of the same ledger. The parties all participate collectively in the validation and recordation of transactions on the ledger via a computerized consensus protocol. There is no clearinghouse required to clear and settle those transactions. Thus, a blockchain ledger can efficiently record transactions without costs and delays caused by intermediaries.
The key benefits of blockchain shares are that participants share a single database: a distributed ledger. As such, trades can execute instantaneously, without reliance on intermediaries, and settlement is guaranteed. “T+3” settlement delays need no longer exist. Voting and other governance processes can be included in the blockchain processes. Both publicly traded and privately held companies might benefit from the efficiencies of a blockchain ledger.
The Blockchain Technology Team at Pillsbury Winthrop (aka, the state's "Legal Ambassadors" on this initiative) is reportedly collaborating with the Delaware Corporation Law Council to develop the appropriate amendments to Delaware law.
See also this WSJ article.