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Many people know that bitcoin is based on blockchain technology, but fewer understand how the underlying technology is being applied to a much broader range of commercial and business functions. Most of these applications involve the use of smart code and smart contracts.
In this One-Hour Briefing, Mark W. Rasmussen and James A. Cox of Jones Day will explore the following topics:
- What are smart code and smart contracts and how are they different;
- How blockchain technology (which is a type of distributed ledger technology, or DLT) works;
- How smart code functions on a blockchain and can be used to create smart contracts;
- Existing and potential applications of smart code and smart contracts; and
- The legal and technical risks raised by the potential for expanded use of smart code and smart contracts in commercial environments.
Program Level: Overview
Intended Audience: In-house counsel, outside attorneys, and allied professionals interested bitcoin, distributed ledger technology, smart code and smart contracts
Prerequisites: An interest in the application of blockchain technology, smart code and smart contracts in commercial environments
Advanced Preparation: None