A guest post by Christian Thornæs.
Smart Contracts and Decentralised Autonomous Organisations (DAO) are about to take off and both will have profound impact on the way commerce and banking is carried out. If the fulfilment of a contract is carried out by an autonomous code-based entity without human employees, who will you sue in the event of a malfunction or a breach of contract?
R3 (R3CEV LLC) is a distributed database technology company. It leads a consortium of more than 70 of the world's biggest financial institutions in research and development of blockchain database usage in the financial system. It is headquartered in New York City. It was founded in 2014 by David E Rutter. The current CTO is Richard G Brown.
If, like the firms who've recently joined the Enterprise Ethereum Alliance (EEA) Legal Industry Working Group, you want to understand blockchain and smart contracts better, why not attend Central Law Training's new course: 'Bitcoin and Blockchain: The Lawyer's Essential Guide'? Presented by expert trainer Christian Thornaes, it's a fantastic opportunity to get up to speed on this important topic so you can provide effective advice to your clients.
“We are thrilled to see robust interest in blockchain technology by forward-looking law firms and institutions,” said Aaron Wright, Chair of the EEA Legal Industry Working Group, Associate Clinical Professor and Co-Director of the Cardozo Law School’s Blockchain Project, and co-founder of the smart contract project OpenLaw, “Lawyers are poised to serve as the catalysts for blockchain technology, and the Legal Working Group will serve as a neutral space to explore blockchain-based legal technology, develop standards for “smart” legal agreements, support emerging enterprise use cases, and tackle important policy issues raised by this new impactful technology.”