|9 August 2018||5:30pm - 7:00pm|
|MaGIC Sarawak @ Borneo 744 View map|
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.
The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations.
You can use smart contracts for all sort of situations that range from financial derivatives to insurance premiums, breach contracts, property law, credit enforcement, financial services, legal processes and crowdfunding agreements.
Join this session by Reuben Yap of Zcoin at MaGIC Sarawak @ Borneo744 to learn more on smart contracts.
Who Should Attend:
Reuben Yap is the Chief Operations Officer of Zcoin. He was a corporate lawyer for ten years specializing in institutional frameworks before joining Zcoin. He joined the Zcoin team in October 2016 and has played a pivotal role in shaping Zcoin’s strategy and vision. Reuben has been a strong advocate of online and financial privacy for over ten years, having founded one of SE Asia’s top VPN companies and being the first merchant in Malaysia to accept cryptocurrencies. He is a regular speaker at blockchain conferences with a focus on blockchain privacy and decentralisation technologies.
Reuben graduated with a LLB from the University of Nottingham.