Strategic Partnership Fueling Blockchain Enterprise Development in Delaware

Despite being the second smallest state in the U.S., Delaware has pursued big plans to attract new business enterprises into its sphere. In conjunction with New York-based Spitzberg Partners LLC, a corporate advisory and investment firm based in New York, Export Delaware, the international business development arm for the State of Delaware, has been focusing on attracting global enterprises from the fintech and blockchain sectors to Delaware.

This move is thought of as a complement to Delaware’s long-standing reputation as one of the best places to establish a corporate entity in America. New business startups, as well as established businesses, find Delaware business entities appealing due to their corporate tax favorability, asset protection and friendly regulatory climate.

An early focus of this project has involved providing support for developers, entrepreneurs and investors in the fintech and blockchain sectors, a core area of expertise for Spitzberg Partners. They are seeking to leverage Delaware’s Blockchain Initiative, a first-of-its-kind technology platform designed to deliver unparalleled speed, transparency and security to business operations. Among the industry verticals targeted will be biotech/bioscience, healthcare, aerospace, manufacturing and logistics.

This project initiative will highlight the many advantages of doing business through and investing in Delaware, including lower costs, easy access to government officials and close proximity to first-rate universities, research centers, and the New York City/Washington, D.C., corridor. The objective is to highlight the fantastic opportunity for European companies seeking a soft presence in the U.S. Capitalizing off of the State of Delaware’s stellar reputation is helping businesses get launched and operational quickly for business growth and success in the U.S.

Andrea Tinianow, the director of Export Delaware, and Michael Marquardt, its global advisor, said that the value proposition of the partnership is directly tied to Delaware being a uniquely and ideally suited soft landing spot for European companies seeking to expand to the U.S. They indicated that Spitzberg Partners and the State of Delaware will work together to create efficiencies for European fintech and blockchain companies looking to expand to the U.S., including speed to market, reduced costs and a highly receptive government. Additionally, they said, the timing of this partnership is extremely advantageous, as many blockchain companies have been deterred from entering the U.S. marketplace due to concerns about the cost of regulatory compliance.

“Use cases that are probably closest to scalable include payments, cybersecurity, identity and records management, which are universally applicable,” said Ulf Gartzke, co-founder and managing partner of Spitzberg Partners. “Additionally, as smart contracts continue to evolve and mature, we anticipate widespread use in the insurance, supply chain, extraction and healthcare industries, among others.”

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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