Move over Bitcoin. It’s the “blockchain”, the innovation that powers Bitcoin, that’s now grabbing all of the headlines. Supporters have been evangelising about the potential transformative power of distributed ledger technologies for some time. Indeed, many claim that distributed ledgers will be the most significant technology to disrupt business since the Internet. A whole host of major financial companies have publicised their interest and investment in this breakthrough technology, and governments and international bodies are increasingly discussing the potential implications of distributed ledgers on business, governments and the economy.

Yet most businesses and their advisers have yet to understand distributed ledgers, let alone their real utility. Not since “the cloud” has one buzzword caused so much head-scratching. In this Alert, we will attempt to demystify distributed ledgers, cut through the hype and outline what you need to know about this technology, its potential to transform business and the legal and regulatory implications.

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