Workshop 2 Blockchain

Workshop 2 Blockchain

Workshop 2: Blockchain - November 7

8:30 Registration and breakfast

Doug Landy, Partner, MILBANK

James Kong, Senior Associate, MILBANK

Jonathan Edwards, Associate, MILBANK and author of “Regulation of Blockchain Technology”

9:00 Recent Regulatory Developments in Blockchain/DLT

  • Overview of the SEC’s and CFTC’s position on cryptocurrencies and cryptocurrency-related activities

o    Classification of cryptocurrencies as securities

o    Cryptocurrency Exchanges

o    ICO’s

o    Bitcoin futures

  • Bank Regulators: The Fed, OCC, FDIC and NYSDFS

o    Charters for tech firms

o    Cryptocurrency as actual currency

o    Views on regulated banks employing block chain solutions

  • FinCEN

o    Applicability of Money Transmitter rules

10:00 Benefits of distributed ledger technologies for financial industries vs legacy systems used by banks

  • Reduce error in trade reconciliation
  • Increased Transparency
  • Clearing and settlement;
  • Speeding up and simplifying cross-border payments;
  • Supply chain management;
  • Using smart contracts to automatically validate, sign and enforce agreements; and
  • Security and identity management solutions

11:00 Morning coffee break

11:30 Financing Cryptocurrency

  • Problems with lending against cryptocurrency
  • Characterization of cryptocurrency under the Uniform Commercial Code as a “general intangible”
  • Problems with perfecting a security interest in cryptocurrency

o    Article 8 and 9 of the Uniform Commercial Code

o    Perfecting with control

  • Need for intermediaries and custody solutions
  • CFTC/CEA concerns and “actual delivery” requirements
  • LSTA development of language for lending forms

12:30 Lunch

1:30 Crypto as an asset class

  • Broad overview including blockchain
  • Blockchain 2018 landscape analysis

Joyce Shen, Investment Director, TENFOR HOLDING and author of “Taking Stock and What We’ve Learned: Promises and Limitations of Blockchain”

3:00 Afternoon coffee break

3:30 Enterprise wide blockchain trading

  • How Blockchain is changing global development programs
  • Integration of blockchain to existing systems and frameworks including reporting and collateral management – how to integrate it with other systems
  • Blockchain 2020
  • How Bitcoin payroll & blockchain will affect the remote workforce
  • Enhancement of blockchain across the world

Speaker to be confirmed

5:00 End of workshop