Tech London Advocates release blockchain report, including guidance on smart contracts
Tech London Advocates’ (TLA) dedicated Legal and Regulatory Blockchain Group have released a brand new report on blockchain and distributed ledger technology.
The guidance covers transactions involving Smart Legal Contracts (SLC) and solutions to anticipated problems. In particular, the guidance sets out some key issues for legal practitioners to be aware of when advising on DLT-related matters such as commercial applications, smart contracts, data governance, blockchain consortia, data protection and security, intellectual property, dispute resolution and cryptoassets.
The Rt Hon Sir Geoffrey Vos, Chancellor of the High Court said; “This sudden acceleration in use has only emphasised our need to understand the ways in which technology is affecting our professional lives and lawyers face a steep learning curve. They will need to become familiar with DLT, smart legal contracts and cryptoassets – conceptually and functionally. This Guidance is an important step on that path.”
Anne Rose, Founder of the TLA Blockchain Legal and Regulatory Group and Associate at Mishcon de Reya said; “One significant factor hindering the adoption of blockchain applications is the lack of legal certainty. I hope that this document accelerates the provision of guidance from legal and regulatory authorities and educates legal practitioners working in this space as to some of the key legal issues to be aware of when advising clients on matters such as smart legal contracts and dispute resolution.”
You can access the report here: