BLOCKCHAIN PUT SIMPLY

BLOCKCHAIN PUT SIMPLY

The hype around Blockchain means we get asked “what is it?” quite a lot as commercial lawyers who operate in this area of law.

There is no agreed universal definition for it.

Yet its mainstream adoption over the next decade is predicated on people being able to understand what Blockchain is and conceptualise its application to everyday use.

BLOCKCHAIN PUT SIMPLY

BLOCKCHAIN PUT SIMPLY

Blockchain is a decentralised database facilitated by high grade cryptography. It has no central control authority that governs it such as a bank. A blockchain allows parties that do not know or trust each other to transact with each other directly and without an intermediary and prevents double spending of the same asset. It stores the resulting transaction on a commonly and accessible database that show the history of such in a way that those transactions cannot be changed, thus creating a permanent shared public record.

We provide briefing sessions to the public and industry regarding Blockchain and how it can be applied, the issues that arise from it and the legal implications surrounding its adoption.

Call us now on 9528 0235 for further information.

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