Energy Industry and Blockchain: New Applications and Issues for Counsel

Distributed Ledger Technology in Energy, Smart Contracts, Regulatory Concerns

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, October 17, 2017

Recorded event now available

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Program Materials

This CLE webinar will provide counsel with an examination of current and potential uses of blockchain in the energy industry. The panel will discuss the advantages of distributed ledger technology (DLT) in cost-efficiency, cybersecurity and fraud protection, as well as the legal and structural concerns in implementation.

Description

Blockchain offers extensive possibilities for the energy industry. Blockchains and DLT enable computable and self-executing “smart contracts” coded to execute actions within a contract cycle if/when specific conditions are met. Such contracts significantly reduce transaction time and costs, especially with repetitive, ministerial tasks such as payments on specified dates and supply chain deliveries.

Blockchain technology offers energy producers and providers innovative ways to buy and sell energy and presents new challenges under the current, highly regulated regime.

Counsel to companies in the energy industry must grasp the technology and legal ramifications of blockchain to advise clients on creating or participating in a blockchain.

Listen as our authoritative panel explains the basic technology of blockchain and DLT and its growing application across the energy industry. The panel will also discuss some of the legal issues involved with blockchain-based offerings, including government regulations, privacy laws, intellectual property, and smart contract enforcement.

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Outline

  1. Characteristics of blockchain and DLT
    1. Decentralized, peer-to-peer database
    2. No intermediary required
    3. Difference between blockchain and DLT
  2. Applications in energy
  3. Legal concerns and challenges for energy counsel

Benefits

The panel will review these and other key issues:

  • What is a distributed ledger, and how does it change the way transactions and information are documented?
  • How can smart contract enforcement be embedded in a distributed ledger or blockchain?
  • What are some of the current and proposed uses for blockchain in the energy industry?
  • What legal issues arise with blockchain that are not present with more conventional formats for transacting business?

Faculty

Morris, Jesse
Jesse Morris

Principal
Rocky Mountain Institute

Mr. Morris leads RMI’s work with the Energy Web Foundation, a nonprofit organization dedicated to accelerating...  |  Read More

Suda, Molly
Molly Suda

Partner
K&L Gates

Ms. Suda focuses her practice on regulatory compliance, enforcement and transactional matters involving electric...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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