Cryptocurrencies such as bitcoin, ethereum and dogecoin saw a record $9.3 billion inflow in 2021. Governments and regulatory bodies are racing to keep up with the explosion of cryptocurrencies, marketplaces and exchanges, and other digital assets such as NFTs. Thomson Reuters is hosting a two-day conference discussing risks and rewards for the global crypto community. …
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Blockchain
FinTech and the Future of the Transactional Practice
Did you know that El Salvador adopted bitcoin as the country’s official currency earlier this month? How about that non-fungible tokens (NFTs) generated $2.5B in sales during the first half 2021? With digital currencies and transactions more prevalent than ever before, the financial world is on the precipice of significant change. We’re in the early …
2019 Highlights: Using Blockchain Technology to Combine Smart Contracts and Document Automation
As 2019 winds down, Legal Current is revisiting milestones and key accomplishments from the Legal business of Thomson Reuters this year. Today, we look at our partnership with OpenLaw to develop a proof of concept that combines smart documents powered by blockchain technology with document automation. Leading legal and blockchain outlets highlighted the partnership, including …
Blockchain Technology Can Combine Smart Contracts & Document Automation
Blockchain technology holds promise for enabling so-called “smart contracts” that greatly streamline the process for creating, reviewing and approving contracts. Combined with document automation technology, it could revolutionize contracts, creating tremendous efficiencies and opening new product possibilities in the financial world and beyond. Thomson Reuters and OpenLaw set out to demonstrate how these technologies could …
CryptoKitties, Fashion Law & How Law Firms Can Use Blockchain
We’ve all likely heard about bitcoin and cryptocurrencies, but how about cryptokitties? Apparently, virtual cats can be bought and sold on platforms using blockchain technology, which securely tracks digital transactions. Virtual cats aside, blockchain has tantalizing potential for a number of legal applications, owing to its unique abilities to create records that are resistant to …
ACAMS2018: Managing Risk in the Cryptosphere
Just prior to entering your first haunted house as a child, maybe you felt a little anxious? Or maybe you were uneasy when you had to stand in front of the class for your first speech. Many financial institutions (FIs) are feeling that same way, with a fear of the unknown surrounding the cryptocurrency market …
ACAMS2018: Compliance Models and Cryptocurrency Risks
Information has value, and illegal activity to obtain that information is more prevalent than ever. And with that activity, often funded by cryptocurrency, there comes a sense of urgency to develop a knowledge and understanding around cryptocurrency risks. At the ACAMS 17th Annual AML & Financial Crime Conference, a panel entitled “Crafting Compliance Models to …
The Internet of Tomatoes on the Blockchain
While much of the legal industry has been overwhelmed by the hype surrounding blockchain, a lot of the attention has focused on cryptocurrencies and initial coin offerings (ICOs). But at Thomson Reuters innovation lab in Boston last week, a farmer and the co-creator of a local food partnership spoke about how the Internet of Things …
A Look Back at the 2018 Public-Private Partnership Forum in New York
On March 7, Thomson Reuters hosted the 2018 Public-Private Partnership Forum at the Westin New York – the first of three events in a series designed to bring together leaders from both the public and private sector for a day of discussion on topics ranging from anti-money laundering, threat prevention, human trafficking and more. With …
ACCAM17 Keynote – Blockchain: More Opportunity Than Digital Payments
As traditional models of success are evolving in nearly every sector of industry, Don Tapsoctt, CEO of the Tapscott Group, opened the 2017 Association of Corporate Counsel (ACC) Annual Meeting with a discussion centered on blockchain. Tapscott has authored more than 15 books including Wikinomics: How Mass Collaboration Changes Everything, Paradigm Shift and his most …