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Blockchain & The Law Roundup: Update 8 September 2017

Blockchain may be more popular than fidget spinners at the moment. Here are a few select things that we think might be of interest.



Title:  Legal Technology and Smart Contracts: Blockchain & Smart Contracts (Part IV)

Author: Forbes

Date:  6 September 2017


Extract:  Much has been written on blockchain recently, even in legal. We continue our series with Mark Oblad, VP, Legal and Finance at JW Player, who has coded a number of tools for automating transactions. Last time we talked about open source and industry source of information for contracts here.  This time, we look first at smart contracts. The concept of the “smart contract” has taken hold and is becoming increasingly the focus of legal technology groups, such as the Computable Contracts Initiative at Stanford Law School’s CodeX, Cardozo Law School’s Tech Startup Clinic, New York Law School’s Center for Business and Financial, and Computational Legal Studies.


Title:  Uncertain legal status of financial transactions in marijuana industry lead to bitcoin, cryptocurrency development

Author:  IP Watchdog

Date:  2 September 2017


Extract:  On July 27th, the U.S. Senate Committee on Appropriations held a hearing of the full committee to markup several pieces of legislation, including S.1662, the Commerce, Justice, Science, and Related Agencies Appropriations Act for 2018. News reports indicate that, during that hearing, the Senate appropriations committee approved an amendment which would reduce the ability of federal-level law enforcement agencies to interfere with state laws on the medicinal use of marijuana. This amendment comes at a time during which the nascent medical marijuana industry looks as though it’s turning to cryptocurrency in response to the questionable legal status of medical marijuana businesses.


Title:  Why law firms are paying attention to blockchain

Author: National magazine

Date: 30 August 2017


Extract:  Bill Henderson suggests in a recent post, that blockchain-based “smart contracts” and their potential to automate and enforce contract terms are “closer to lawyers’ natural wheelhouse.” And as Henderson observes, that will have an impact on the substantive aspects of law, as well as business of law itself.


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