Blockchain is a very tactile name for a certain assortment of code — which is credited by some as the gathering place of a revolution in finance (and beyond). Blockchain was created to solve the problem of establishing a stable crypto-currency system that does not rely on banks or central parties to keep the ledger of transactions and accounts. Instead the ledger is distributed among network participants. A single consensus-driven and immutable ledger facilitates rapid settlement of transactions because all parties have the same view of the information. No bank? No custodian? No title company? No trusted intermediary? The implications are broad. But what is block and what is chain? And is the thing secure? We offer an introductory discussion.
Mr. Cahill is partner at Sugar Felsenthal Grais & Helsinger LLP, in Chicago, Illinois. He guides secured lenders, creditors, debtors, creditors’ committees, potential purchasers and others through bankruptcy cases, out-of-court workouts,… Read More
Jordan is a co-founder and board member of OpenFinance and CFX Markets, an online trading platform for non-public investments that is transforming how people view and hold alternative asset positions.… Read More