Our blog reports on blockchain developments around the world and across industries. For those of our readers interested in some blockchain basics, Baker McKenzie has just published “Unhashing Blockchain: Blockchain Explained.” In it, we provide an overview of blockchain technology, discuss how it is being used and identify the legal issues that will arise (or have already arisen) in connection with this nascent technology.
On 3 July 2018, the European Banking Authority (EBA) published a report outlining the prudential risks and opportunities arising from FinTech as part of its 2018 FinTech Roadmap. The report includes useful guidance on the use of distributed ledger technology (DLT) for trade finance and CDD (although the EBA is keen to note that the report should not be considered to provide an exhaustive list of possible prudential risks and opportunities that may arise.) Trade…
Over the past few decades, supply chain management has benefited immensely from technological advances that have made it easier and faster to transport cargo from one place to another. However despite these advances, supply chains continue to face challenges when it comes to tracking cargo, ensuring the integrity of cargo and holding members of the supply chain accountable for cargo, as it moves from one participant in the chain to the next. Blockchain has the…