Breaking: Smart Contracts (blockchain) legalised in Arizona

  On March 29, (2017) Arizona Governor Doug Ducey signed the bill HB 2417 into law. As covered earlier by IndiaTechLaw on Smart Contracts, this bill seeks to amend the current law and bring legal validity to blockchain signatures.   What are blockchain signatures? Blockchain is a unique method to publicly maintain one single database of all financial transactions. […]

Canadian Securities Law (OSC statement) on Distributed Ledger Technologies (blockchain)

The Ontario Securities Commission (OSC) put up a press release on Wednesday (March 8th) containing cautionary advice against use of Distributed Ledger Technology or commonly the blockchain. In the press release OSC advises businesses using blockchain to offer securities, falling under the Ontario Securities Act, to consider registration as a dealer, adviser and/or investment fund manager. “Many […]

How blockchain is changing the finance industry: Triple Entry Accounting

The blockchain technology brings in yet another revelation, this time in accounting principles. Enter the Triple Entry Accounting system. Compared to the traditional double entry accounting, triple entry brings in another dimension in the accounting process. In this article we will first clarify what is double entry accounting and how blockchain technology introduces the triple entry […]

How blockchain is changing the legal industry: Smart Contracts

A smart contract is a self-regulated software which has it’s own impeccable sense of time, it is used to send automated electronic messages, either periodically or conditionally. Periods are based on specific intervals of time and conditions are reference to objective facts around us. The electronic messages sent are transactional in nature which change account balances of two or more […]

What are bitcoins / cryptocurrency / blockchain – what is so different than fiat money?

Bitcoins are all set to disrupt financial exchanges globally. In just one year the value of all bitcoins together have risen from USD 6 billion to USD 16 billion. At this rate I am sure by 2020 bitcoins will have a global value of at least USD 500 billion. Just like Potato Chips are a […]