While policymakers try to balance their desire to foster innovation with protecting public interest, the sector continues to evolve at a rapid pace. For clients, navigating these waters can be a daunting task.
It is clear that distributed ledger technologies will play a greater role in solving complex business problems across all industries. While cryptocurrencies – the best-known application of distributed ledger technology – may serve as a digital exchange of value – the application of the underlying technology is much broader. U.S. companies, along with a number of government agencies and state governments are exploring and applying these technologies to:
- administer medical records
- trace products in supply chains
- enable energy trading
- permit assets such as energy, land, and water to be disaggregated into tokenized mini-assets
- create smart contracts
We have advised companies across the entire FinTech value chain, including, trading and clearing, lending, financial information services, retail and consumer banking, bill payment, money transfer and remittance, crowd funding, and non-fungible tokens.
Companies across all industries need to understand the legal and regulatory considerations that arise during the development and implementation of these technologies.
Our Kelley Drye team leverages the firm’s cross-industry experience to help clients harness the potential of distributed ledger technology while mitigating related risks.