On April 25th, Kelly Samuels, partner and business lawyer, will discuss the emerging technology of blockchain with a panel of industry experts at Business in Vancouver’s Business Excellence Series: The Blockchain Revolution.
Blockchain is a decentralized, regularly updated database that is distributed across a network of computers. As Business in Vancouver notes: “The transparent, verifiable, inexpensive record is at the heart of a revolution in financial technologies that stand to alter business models and economic and social systems.”
Opinions on these new financial technologies range widely, with Bitcoin being especially divisive. Jamie Dimon, Chairman and CEO of JPMorgan Chase, has famously described Bitcoin as “a fraud” and referring to a 17th-century speculation mania, as “worse than Tulip Bulbs”. On the other hand, Peter Thiel, Co-Founder of PayPal, has called it the “the beginning of something great”.
Bitcoin is only one popular manifestation of Blockchain, the underlying technology which allows for the efficient transfer of funds. Blockchain also has the potential to streamline complex procedures. This new technology offers BC business leaders an opportunity to rethink current business practices and, potentially, to benefit from the blockchain revolution.
With experience in the financial technology space, Kelly Samuels will be providing a unique legal perspective on what the blockchain revolution means for businesses in BC.
For regular updates on the world of blockchain, fintech, and cryptocurrencies, follow the EKB Fintech blog.