1. New tech, old law The interaction of blockchain and legal practice
Hannah Glass

2. Technology driven world
Proliferation of blockchain technology
Technology driven world ? ? ? ? ? ? ? ? ? ? ? ? ?

3. If … then … //{code is law} if code == law and code == flaw:
Smart contracts
If … then …
//{code is law}
if code == law and code == flaw:
flaw = law

4. Sample of current projects.
What are people doing with blockchain
Sample of current projects.
Used to manage:
 Fraud risk
 Transparency
 Transferability
 Cyber risk
 Financial risk
 Authenticity
 Operational risk
 Predictability
Intermediation
Digitisation
and other things too.
Provenance
Supply chain
Payments
Health records
Derivatives
Trade finance
RegTech
AML / KYC identity
Clearing
Distributed energy
Digital currency
Welfare payments

5. Law is technology neutral
Blockchain in the courts
Law is technology neutral
Fraudulent, misleading or deceptive
Class actions
Jurisdiction
Liability
Taking security over digital assets
Proceeds of blockchain
Bankruptcy and insolvency
Divorce
Probate
Arbitration

6. HANNAH GLASS Senior associate T +61 2 9296 2069 M +61 421 175 274
Further reading:
10 points on Initial Coin Offerings (ICOs)
Australian government consults on ICOs
"Know Your Token": A guide to participating in token sales
Standards Australia releases Roadmap for Blockchain Standards
China's ICO Ban: the future of digital asset transactions
Australia’s leading role in International Blockchain Standards
Design-thinking a blockchain healthcheck
10 things you need to know about blockchain in finance & financial markets
Navigating the blockchain path: Australia’s ASIC releases guidance
10 things you need to know about smart contracts
ICOs a dripping roast for disputes lawyers
How to use humans to make smart contracts truly smart
KWM fintech library (holds a range of additional material)

7. Blockchain in 10 points. Appendix: a brief blockchain explainer.
It is more than Bitcoin.
It is a transaction record …
independently verified by others …
and held on a distributed ledger.
It does not need an open system ...
or a token or coin.
It can increase efficiency and safety …
and could be welcomed by regulators.
Smart contracts amplify its potential …
but there is still some work to do.