Blockchain and Smart Contracts in Supply Chain Contracting and Management
Electronic Contracting and Enforceability; Choice of Law and Forum; Force Majeure Provisions; Impossibility of Performance
Recording of a 90-minute CLE webinar with Q&A
This CLE course will discuss trends in the use of blockchain and smart contracts in the supply chain context and examine the legal issues, concerns, benefits and risks associated with its use.
Outline
- Overview
- Public/open/permissionless blockchains
- Private/closed/permission blockchains
- Smart contracts
- Blockchain and the supply chain
- Legal and practical issues
- Governance
- Verification
- Technological hurdles
- Electronic contracting
- Cybersecurity
- Choice of law, forum and venue
- Regulatory compliance
- Audits and record keeping
- UCC
- Confidentiality
- GDPR and other data privacy issues
- Litigation and discovery
- Quantum computing
- Force majeure provisions
- Blockchain consortia considerations
- Best practices
Benefits
The panel will review these and other critical issues:
- Though adoption of blockchain by participants in supply chains has many advantages, what are the essential legal and practical concerns?
- What is an unforeseeable force majeure event in the blockchain or smart contract environment?
- In smart contract situations, where technology failures may prevent performance by one or both parties, do common law force majeure or impossibility of performance doctrines apply?
- Should an agreement contemplate a contingency to revert to a paper-based system in the event of a technology failure?
- What legal issues arise with blockchain that are not present with more conventional means for transacting business?
- What are some of the current and proposed uses for blockchain in the supply chain context?
Faculty
Wai L. Choy
Atty
Proskauer Rose
Mr. Choy is a senior associate in the Technology, Media & Telecommunications group at the law firm of Proskauer... | Read More
Mr. Choy is a senior associate in the Technology, Media & Telecommunications group at the law firm of Proskauer Rose LLP, based in New York. He focuses his practice on technology, media and IP-related transactions and counseling. Mr. Choy structures, drafts, negotiates and advises clients on legal and business aspects of a wide range of commercial contracts, including those relating to technology deployment. He also counsels clients regarding blockchain and distributed ledger technology development, structuring and implementation, and the associated legal issues. Mr. Choy writes for, and serves as Associate Editor of, Proskauer’s blockchainandthelaw.com blog and is a guest lecturer on blockchain at Fordham University School of Law.
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Melissa L. Markey, CISSP
Attorney
Hall Render Killian Heath & Lyman
Ms. Markey focuses her practice on developing practical, operationally focused cybersecurity, privacy and life sciences... | Read More
Ms. Markey focuses her practice on developing practical, operationally focused cybersecurity, privacy and life sciences recommendations for clients. Her patient care background and qualification as a Certified Information Services Security Professional allows her to bring a functional perspective to complex privacy, security and research issues with a focus on solutions that work in the real world. Ms. Markey has significant experience with medical device cybersecurity and cross-border privacy transactions. She assists with risk assessments, incident and breach response, and information governance, as well as IRB issues, clinical trial agreements, conflicts of interest, advice regarding research operations and structure and research misconduct inquiries and investigations.
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Mark W. Rasmussen
Partner
Jones Day
Mr. Rasmussen is a seasoned litigator and investigator with more than a dozen years of experience representing clients... | Read More
Mr. Rasmussen is a seasoned litigator and investigator with more than a dozen years of experience representing clients in complex commercial litigation, securities litigation, regulatory and internal investigations, and bankruptcy litigation. He also advises clients on regulatory compliance related to cryptocurrencies, initial coin offerings (ICO), and blockchain technology and was recently appointed by Chief Judge Barbara Lynn, of the Northern District of Texas, to be the first ever receiver in an SEC enforcement action involving an ICO promoter. In addition, Mr. Rasmussen is co-editor of the book Blockchain for Business Lawyers and is a frequent speaker on legal issues related to blockchain technology.
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