While developments in the burgeoning blockchain technology and cryptocurrency industry typically come at a breakneck pace, last week was marked by particularly significant news. On consecutive days, the U.S. Securities and Exchange Commission (SEC) announced its position on certain initial coin offerings and token offerings as well as sales through blockchain or distributed ledger technology, a global digital currency exchange was hit with a significant fine for its failure to comply with U.S. law, and a local court decision highlighted [...]
Applications of blockchain technology are growing daily, but is it the next technology for conveying title to real property or recording real estate deeds? Cook County in Illinois is certainly interested in finding out.The Cook County Recorder of Deeds completed a Pilot Program and worked over the last few months to understand how blockchain could be used to convey title to property and register Illinois land records.
Views differ on blockchain. Somewhere amidst the hype and the skepticism, lie insights which will help secure the promises which many believe the technology could deliver. Blockchain is making inroads across a number of industry sectors. Partly linked to its cryptocurrency roots, the financial services sector has been leading the charge with significant investments made already, but that sector also faces material challenges to navigate due to its highly regulated operating environment.