The use of digital currencies, like bitcoin, is becoming widespread. Notable is its underlying infrastructure – the decentralised ledger of transactions called the “blockchain,” which could have extensive effects in myriad applications.

Blockchain and distributed ledger technology offers significant and scalable processing power, high accuracy rates, and apparently unbreakable security at a significantly reduced cost compared to the traditional systems the technology could replace, such as settlement, trading or accounting systems.

However, like all new technology, it poses challenges for suppliers, customers and regulators. Given that no central authority tracks, approves or secures transactions on the bitcoin network, it is complicating the legal landscape in many emerging areas.

The ALB supplement Blockchain: A Legal Guide,to be published in November 2017, discusses some of these areas as well as some of the legal impediments that may need to be overcome prior to wide-scale implementation. It will feature contributions from regulators, law firms and other entities. The comprehensive guide will give in-house counsel a crystal-clear idea about the risks related to blockchain technology, including case studies.

If you are a subject matter expert who wishes to contribute content to the guide by purchasing a chapter, please contact Amantha Chia at amantha.chia@thomsonreuters.com or +65 6870 3917 today.