Earlier on this year we released a series of papers on the
subject of Distributed Ledger Technology, or "DLT" (of
which blockchain is a key example) – these articles can be
accessed
here and
here. Our main focus was on the inner-workings of DLT and its
relevance in the real world, including potential use cases.
However, one key observation was the fact that the regulatory
implications of this technology may be many and varied, and that
the legal and regulatory landscape would be an important influence
on the continued development and use of DLT and connected
technologies.
Cryptoassets and smart contracts
When we think about DLT, and blockchain in particular, two
topics that immediately come to mind are cryptoassets (or
currencies) and smart contracts. Both terms have become popular
buzzwords which are thrown around without much understanding or
recognition for what is going on 'under the hood'. So,
dealing with both in turn...
