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Russell McVeagh disseminates the future of smart contracts

Russell McVeagh disseminates the future of smart contracts

7 November 2016

On the heels of publishing the Cyber Attack Toolkit, Russell McVeagh has turned the focus onto smart contracts and blockchain. The firm's Information Communication and Technology (ICT) Team – who advise on the full spectrum of ICT matters for the private and public sector – today, published an introductory booklet, demystifying the topic.

The booklet includes information on the concept of smart contracts, the blockchain database, Bitcoin, and the firm's vision for the future of smart contracts.

Tom Maasland, of Russell McVeagh's ICT Team says, "Smart contracts will likely disrupt many industries within a very short time frame. The potential for their use increases as more assets come to be represented digitally, such as mortgages, intellectual property, land and money. The legal industry needs to stay on top of the developments in this area and continually review how smart contracts, in whatever guise, fit within existing legal frameworks. If they don't fit, lawyers and coders will need to work together to determine how such legal frameworks might be modified to work together."

Russell McVeagh has made this publication accessible to all clients and the wider public via this link, and encourages any queries on smart contracts to be directed to Tom Maasland and Michael Taylor for further advice.

The firm's ICT Team plans to follow up with a series of more detailed pieces.

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