On January 3, 2021, 12 years to the day after its creation, the price of Bitcoin hit another all-time high at over $40,000. Since 2009, cryptocurrencies have seen explosive growth, not just in Bitcoin but also in the emergence of new protocols such as Ethereum and new asset types like non-fungible tokens (NFTs).
This training will provide a brief overview of what blockchain is and how it works, the emergence of NFTs and other novel asset types, and a discussion of associated legal and regulatory considerations.
Blockchain technology has the potential to transform the way people invest in commercial real estate. Kris Ferranti of Shearman & Sterling LLP will discuss how blockchain enhances efficiencies in commercial real estate investing. In addition, he will explain the various structures implemented to digitize interests in commercial real estate, the process of tokenization, and the key legal and regulatory considerations in doing so.
Key topics to be discussed:
Thomas Mack & Richard Wildman:
Understanding blockchain and distributed ledger technology
Second-generation blockchains, smart contracts, and non-fungible tokens
Key legal and regulatory themes
Blockchain as a use case for commercial real estate
Crypto commercial real estate structures
The commercial real estate tokenization process
Key legal and regulatory considerations
Date / Time: August 30, 2021
1:00 pm – 3:10 pm Eastern
12:00 pm – 2:10 pm Central
11:00 am – 1:10 pm Mountain
10:00 am – 12:10 pm Pacific
Choose a format:
Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 5 business days after the original recording date and are viewable for up to one year.
Thomas Mack | Mack Legal, PLLC
Thomas is principal at Mack Legal, PLLC. He has advised leading innovators on the development of new technologies and business models, particularly in financial technology. He has counseled clients on distributed ledger technology (“DLT”), blockchain, and cryptocurrency-related matters while practicing at a global law firm, and in house as Corporate Counsel to a top U.S. digital asset exchange. His clients at Mack Legal include companies in various stages of development, from startup to Fortune 100.
Thomas holds a Juris Doctorate from NYU School of Law and is admitted in New York and the U.S. District Court for the Southern District of New York. Thomas Mack is principal at Mack Legal, PLLC. He has advised leading innovators on the development of new technologies and business models, particularly in financial technology. He has counseled clients on distributed ledger technology (“DLT”), blockchain, and cryptocurrency-related matters while practicing at a global law firm, and in house as Corporate Counsel to a top U.S. digital asset exchange. His clients at Mack Legal include companies in various stages of development, from startup to Fortune 100. Thomas holds a Juris Doctorate from NYU School of Law, and is admitted in New York and the U.S. District Court for the Southern District of New York.
Richard Widmann | Product Counsel, Google
Richard Widmann is a Product Counsel at Google where he advises the business on launching new and innovative products and technologies. Recently, he is working on creating best practices to help major companies navigate new challenges presented by blockchain technologies. Richard is also one of Google’s representatives on the Hedera Hashgraph Council – a decentralized governing body made up of major enterprises participating in the Hedera Hashgraph ecosystem. Richard is a former middle school english teacher.
Kris Ferranti | Shearman & Sterling LLP
Kris is a partner in the Real Estate practice at Shearman & Sterling LLP. He has extensive experience representing clients in complex commercial real estate transactions, including in the areas of acquisitions, dispositions, joint ventures, development projects, foreign investment, financings and ground and space leasing. His practice also focuses on the use of Blockchain technology and the digitization of assets in commercial real estate. Kris regularly represents financial institutions, sovereign wealth funds, investment funds, family offices, and individual and institutional investors and developers. He is recognized by Super Lawyers, Law360, and Crain’s New York Business as a “Rising Star” in Real Estate.
Kris has authored several publications and has been involved in a number of speaking engagements at seminars and conferences and on podcasts and webcasts on various real estate subjects.
I. Understanding blockchain and distributed ledger technology | 1:00 – 1:20
II. Second-generation blockchains, smart contracts, and non-fungible tokens | 1:20 – 1:40
III. Key legal and regulatory themes | 1:40 – 2:00
IV. Break | 2:00 – 2:10
V. Blockchain basics and non-fungible tokens | 2:10 – 2:25 VI. Blockchain as a use case for commercial real estate | 2:25 – 2:40
• Issues with commercial real estate potentially solved with blockchain
• Comparison to REITs, funds, and crowdfunding platforms
• Potential drawbacks of tokenizing commercial real estate
VII. Crypto commercial real estate structures | 2:40 – 2:55
• Equity tokenization structures
• Dirt and land registry tokenization structures and regimes
• Case study of example transactions and land registry systems
• Preparing blockchain enabling organizational documents
• Creating cryptographic hash and coding smart contracts
• Primary market issuances and secondary market exchanges
VIII. Key legal and regulatory considerations | 2:55 – 3:10