Smart contracts use computer code to execute actions within the contract cycle automatically when specific conditions are met. Such contracts can significantly reduce transaction time and costs, especially with repetitive or ministerial tasks such as payments on specified dates, supply chain deliveries, or automated trades in stocks and other financial instruments.

Smart contracts may be executed via blockchain technologies. They have the capacity for extensive use in the global markets.

Corporate counsel must understand how smart contracts operate, their limitations, and the associated legal issues, including cross-border legal issues, in order to effectively advise clients.

Listen as our authoritative panel explores the emergence of smart contracts and the legal, regulatory and consumer protection issues associated with their use.