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Blockchain and DLT

Blockchain technology has the potential to disrupt every industry. It has already impacted the Financial Services and Insurance fields, supply chain solutions, payment solutions etc., but we are still waiting for industries to take full advantage of the new technology. We recognize the following opportunities in particular industries.

Energy: Energy companies are starting to look at how the technology will help to optimize their processes and facilitate energy transactions. The trend in energy is that, in particularly due to solar panels, consumers are also becoming electricity manufacturers, and with increase of number of electric cars, consumers are also becoming owners of vast electricity storage capacities.

Hospitality: Hospitality companies are considering how the technology could revolutionise their end to end supply chain, loyalty schemes and booking procedures.

Real Estate: Real Estate companies are starting to look at how the technology has the potential to optimise their processes and facilitate real estate transactions.

Retail and Food: Retail and Food companies are examining how the technology could revolutionise their end to end supply chain.

Transport: Transport companies are studying how the technology has the potential to make supply chains more transparent and secure, and to enable smarter and more efficient logistics.

Have you thought about the legal implications of Blockchain?

Jurisdiction

Which legal framework will apply?

What forum should be used to resolve disputes?

How do you govern entities that exist purely in cyberspace (known as “decentralised anonymous organisations” or “DAOs”)?

Liability

How is ownership/control determined?

Where does the liability lie when something goes wrong?

How can businesses limit their exposure?

Smart Contracts

How do you create a blockchain based contract (a “Smart Contract”)?

Are Smart Contracts enforceable?

Can code determine issues of fairness?

How should disputes be resolved?

How do you govern decisions made by an AI?

Regulation

How will regulatory authorities choose to approach blockchain?

How will blockchain interact with existing regimes such as those relating to consumers or finance?

How will tax laws apply to transactions a blockchain system?

Terms and Conditions

What terms do you need to include to cover the particularities of blockchain such as payments in cryptocurrency?

What terms do you need to offer distributed applications (dApps) to your users?

Data Protection

Who are the controllers and who are the processors?

How can privacy be protected on an open system?

How can you obtain all the necessary consents?

Have you thought about the legal implications of Blockchain?

How can NLaw support you?

At NLaw we are committed to becoming the leading European law firm for regulatory challenges arising in the context of Blockchain and distributed ledger technologies.

By collaborating with distinguished Blockchain experts we combine our pre-existing expertise in regulation with the technological capabilities, which are required to provide valid advice.

Regular exchange with the local and European crypto and Blockchain community keeps us up-to-date on relevant developments.

If you have any questions about how Blockchain is going to impact your business, please get in touch.