Blockchain Technologies and Smart Contracts are a growing topic of interest in financial transactions and business contracts. While the distributed ledgers on blockchains can offer an immutable form of record-keeping accessible to all parties, legacy legal systems were not designed with this kind of protocol in mind.
Join us for remarks from Illinois State Representative, Keith Wheeler, ranking member of the Cybersecurity, Data Analytics, & IT committee. Rep. Wheeler is author of the Blockchain Technology Act which has been hailed in the blockchain industry as an important step in providing regulatory certainty for businesses and individuals using distributed ledger technology.
The Blockchain Technology Act was passed with broad bipartisan support and signed into law by Governor JB Pritzker. This act provides for the permitted uses of blockchain technology in transactions and proceedings as well as limitations to the use of blockchain technology. It also prohibits units of local government from implementing specified restrictions on the use of blockchain technology such as requiring licenses or imposing fees.
This event is sponsored by the Disruption Lab at Gies College of Business and the Champaign Blockchain Meetup Group at the University of Illinois Research Park.