1. Unleashing The Potential of Blockchain
Applications in Brazil
Brazilian-American Chamber of Commerce
April 4th, 2019

2. About Me Camila Rioja Arantes
Head of Legal Tech practice at Opice Blum, Bruno, Abrusio and Vainzof attorneys at law.
Co-organizer of São Paulo Legal Hackers.
Computational Law workshop course at MIT (2018)
Teacher Assistant (2019)
HackBrazil Mentor – Brazil Conference at Harvard & MIT (2019)
MIT Inclusive Innovation Challenge – LatAm judge (2018 and 2019)
Co-organizer of Open Media Legal Hack; CL+B Fest; Legal Hackers LatAm Summit - São Paulo.
Postgraduate Diploma in Economics for Competition Law at King’s College London (2015/2016)
Graduated from the Centro Universitário de Brasília – UniCEUB.

3. Unleashing The Potential of Blockchain
About This Presentation
Unleashing The Potential of Blockchain
Blockchain 101
Relevant Aspects
Distributed Ledger Technology
Transparency
Immutability
Cryptography
Smart Contracts
Brazilian Scenario: Receptiveness
Use Cases
Real Estate
Healthcare
Preservation

4. Blockchain 101 - Relevant Aspects
Values: Decentralization, transparency, security and privacy.
DLT: Distributed Ledger Technology.
Decentralized Database
Transparency: although the information (or blocks) is not on any server, every user (or node) has access to a complete copy of the information registered. Nodes participate in Blockchain administration through consensus mechanisms - which vary among Blockchains and are central to reliability

5. Blockchain 101 - Relevant Aspects
Immutability: the concept is related to the fact that each new information (or block) is associated with the previous block in a verifiable way, which generates a unique sequence distributed through all users of the network - thus guaranteeing inviolability.

6. Blockchain 101 - Relevant Aspects
Cryptography: from the Greek "kryptós" meaning hidden and "graphene" meaning writing, cryptography is the science that transforms information into numbers and letters unintelligible to those who do not have the key, or formula, to read the message.
Values: Decentralization, transparency, security and privacy.

7. Smart Contracts
Nick Szabo
jurist and computer scientist who pioneered cryptocurrencies.
coined the concept of “smart contract” in 1994:
“acomputerized transaction protocol for the purposes of contractual obligations fulfillment, reducing the need for reliable intermediaries, breaches and related problems, whether accidental or malicious.”

8. Smart Contracts

9. Brazilian Scenario: Receptiveness
Government and Judiciary
Brazil has a public key to sign documents.
BNDES / Petrobras initiatives to be further discussed
Blockchain to register legal proofs
Notary Offices
Civil Law: our legislation may already have what it takes to accept smart contracts
Under civil law, to be deemed valid, a contractual agreement must observe:
Agent capability (e.g. age / mental condition)
Licit, possible and determined object
Its form should either be expressly provided for or not expressly forbidden by law
Loophole
Rulings
Brazilian Supreme Court decided on Sept. 20 that “electronic agreements” may, under certain circumstances, be fully enforced in the judiciary even without the witnesses signature (something our legislation requires for a more straightforward judicial procedure in this matter).
A famous example given by Szabo compares smart contracts to a vending machine (those mainly used for soda and quick snacks). Put simply, smart contracts aim at the simplicity of this sales and purchase agreement: the subject inserts the input (money or cryptocurrency wallet information) in the machine (or system) and immediately receives, without any intermediaries, a certain product chosen. In a study dated 1997, entitled "Formalizing and Securing Relationships on Public Networks”, Szabo ratifies, in detail, the objective of ensuring trust in network relationships through smart contracts, stating that they derive from reliable legal principles, economic theory, and protocols. In this context, it is worth mentioning that Satoshi Nakamoto's famous paper on Bitcoin (and Blockchain) was launched in 2008, which draws one possible use case for smart contracts (i.e. token transfer occurs if certain conditions are met). Smart contracts, in addition to constituting self-executing contracts, can be understood as programming - or computational logic - that operates in a Blockchain and performs predetermined actions according to contractual triggers. In Szabo’s words: “Smart contracts combine protocols with user interfaces to formalize and secure relationships over computer networks. Objectives and principles for the design of these systems are derived from legal principles, economic theory, and theories of reliable and secure protocols. Similarities and differences between smart contracts and traditional business procedures based on written contracts, controls, and static forms are discussed.”.
Available at: .

10. Use Cases: Real Estate

11. Use Cases: Health care

12. Thanks! Obrigada! Camila Rioja Arantes Camila Rioja Arantes @MilaRioja
Thanks!
Obrigada!