Blockchain Practice
BLOCKCHAIN
One thing is for sure. That a revolution is here which is characterized by a set of technological trend that will digitize the industry and take it to another level, a level where full automation will be achieved allowing maximum efficiency at the lowest cost. Among these technologies are:
- Blockchain
- Artificial Intelligence
- Virtual reality
- The internet of things and
- 3D printing
However, based on the data from market analysts, one of the industry 4.0 technology trend that is estimated to have the highest impact in transforming the society is BLOCKCHAIN.
It is important to educate oneself on what Blockchain is and why it is important. Think of ways in which your organization could benefit from it.
Blockchain is a peer to peer decentralized, distributed ledger that records transactions efficiently, and in a verifiable and robust fashion. Blockchain is a time-stamped chain of immutable records, managed by a cluster of computers and not owned by any single entity.
Blockchain is a technology that allows users to interact without the need for intermediaries, guaranteeing the confidentiality, authenticity and integrity of transactions.
SMART CONTRACTS
Smart contracts is a Blockchain enabled Application. A Smart Contract is a term used to describe computer programme code that is capable of facilitating, executing, and enforcing the negotiation or performance of an agreement using Blockchain technology. The entire process is automated, It can act as a complement, or a substitute for legal contracts, where the terms of the smart contract are recorded in a computer language as a set of instructions. In general, smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict – free way while avoiding the service of a middleman. Smart Contract is a computer protocol intended to digitally execute certain tasks if pre-defined conditions are met, thus allowing to digitally facilitate, verify or enforce the negotiation or performance of a contract.
As more digital assets are created, exchanged, or stored, there will be new opportunities as well as new risks, including legal and regulatory risks in the Blockchain or cryptocurrency space, At Hilton Top Solicitors, we help you understand the space so as to make informed decisions thereby maximizing opportunities and minimizing risks.
At Hilton Top Solicitors we provide the following services for you to help you take informed decisions in the blockchain Space:
- We walk our clients through by providing them with legal advisory services and regulatory compliance in accordance with applicable laws, regulations, guidelines, and directives.
- Providing legal advise to policy makers on digital or virtual assets
- legal representation,
- Business formation and structure
- Contracts drafting,
- Data protection & privacy
- Review and advisory services
- Crowdsale Advisory: Initial Coin Offering (ICO), Initial Exchange Offering (IEO), Security Token Offering (STO), and other Token Generation Events (TGEs)
- Know your customer (KYC), anti-money laundering (AML), and combating financing of terrorism (CFT) compliance and review
- Legal Opinion on any aspect of blockchain/cryptocurrency regulations
- Preparation and reviews of commercial, Partnership agreements, and white papers in full compliance with the legislation.
- We help our clients obtain the necessary license for the respective activities.
- We will advise you on the best options to structure your entity in Nigeria.
Would you want to give us a trial?