Aaron Wright

Professor Aaron Wright, director of Cardozo’s Blockchain Project, co-developed the OpenLaw system, which is now launching a new smart contract platform that will allow lawyers to make legally binding and self-executing agreements on the Ethereum blockchain. The OpenLaw system and its use on the Ethereum blockchain was the focus of an article on Artificial Law, a website that covers the legal technology industry. OpenLaw allows lawyers to make use of a searchable database of templates on the platform, then create customized contracts for specific transactional uses, e.g. a finance agreement, or a short-term employment contract. The named parties can then confirm and activate the contract on the Ethereum blockchain using e-signatures and then have the contract self-execute its key agreements via the same blockchain. The project looks to provide a more efficient, transparent and secure contracting system.

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2708, 2017

Making token sales smart

|27 Aug 2017|News|

One of the core benefits of blockchains is that they enable you to transfer assets to anyone around the globe. These assets can be native “protocol tokens,” like bitcoin or ether. They can be “app tokens,” which are managed by small computer scripts running on the Ethereum blockchain known as smart contracts. Or tokens can represent real world assets, like a barrel of oil, diamonds, stocks, bonds, investment securities, a piece of machinery, or even a contract itself (e.g., a lease, deed, or title to property). Ethereum makes it relatively easy to create tokens. With less than a hundred lines of code, a software developer can create an ERC20 token, deploying a smart contract program on Ethereum that keeps track of who owns a given token at a particular point in time. Over the past several years, ERC20 tokens have taken the world by storm, with over $1.8 billion in tokens sold to date.

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