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Blockchain Advanced: Smart Legal Contracts

Applications in the ‘real’ world

MASTERCLASS:

What’s A Smart Contract And How Does It Differ From A Smart Legal Contract?

Challenges with Smart And Smart Legal Contracts

The data or the contract can be entered incorrectly by human error. Data is added into blockchains from external sources called ‘oracles’ that both parties must be able to trust. Oracles can be accidentally or intentionally corrupted.

What’s An Oracle And What Does That Have To Do With Blockchain And Smart Contracts?

Oracles are services that send and verify real-world events and submit this data to smart contracts, triggering changes-of-state on the blockchain. An oracle feeds information into the blockchain underlying the smart contract execution.

Where A Smart Legal Contract Could Work: Real World Application

Tokenisation in real estate. Already in South Australia, changes to the traditional property market with the introduction of digital innovation is dramatically disrupting the way everyday people can access this market. physical brick-and-mortar property can now be accessed pro rata.

"Blockchains transfer their immutability to smart contracts since, once they are committed to the chain, they cannot be changed. Smart contracts have trustless execution where the need for intermediaries is removed, and traditional transactional frictions are minimized."

handshake, smart contract
Blockchain Advanced: Smart Legal Contracts

This 4-hour course follows on from the ‘Blockchain for Lawyers’ basic introduction to smart contracts, with a focus on the construction industry. In this course you’ll learn about the difference between Smart Contracts vs Smart Legal Contracts, and their applications in the ‘real’ world.

  • Why Blockchain?
  • What is a Blockchain and how does it work
  • History
  • Smart Legal Platforms
  • Requirements of a contract & how it relates to smart contracts in a digital world
  • Problems with Blockchain Contracts
  • What makes a good smart clause

Not only for lawyers. This course is for everyone who would like to learn more about the automation of contracts with a focus on construction industry. This is a non-technical course. No coding is required.

This course follows on from the ‘Blockchain for Lawyers’ basic introduction to smart contracts.

How will blockchain impact the ‘traditional’ practice of law?

If you represent clients in blockchain-affected industries, you become an even greater resource as trusted adviser by understanding blockchain within the context of your client’s business.

Being so nascent, blockchain presents an incredible (unique, even) opportunity for lawyers to position themselves as trusted strategic advisors to clients navigating the myriad legal, regulatory, and logistical webs surrounding the technology and its applications. A lawyer serving the music industry, for example, makes herself an invaluable part of a client’s core team if she understands blockchain, how it affects her client, and how her client can capitalise on the technology.

Why? Because the lawyer as trusted advisor is situated differently than others most likely to have blockchain savvy (e.g. IT advisors). Yes, IT knows the technology (maybe). But only the lawyer can extrapolate from the technological understanding to what this really means for a client operating in a law- and regulation-bound environment.

Here are a few industry-specific examples of how lawyers can become trusted blockchain advisors to clients, within the context of an existing practice:

  • Finance
  • Insurance
  • Entertainment
  • The Smart Contract Firm
  • The Smart Contract Mediator
  • The Smart Title Company
  • The Ledger Lawyer: Blockchain Law and Policy Advisor
  • Educator
Educate and Prepare
  • Face-to-face
  • Corporate in-house training
  • Online
  • Course Duration: 4 hours

Are you ready to study?

REGISTER YOUR INTEREST NOW

LET'S GET PRACTICAL: Create your first smart contract for construction and building industry

Coming soon
Frequently asked questions

The course has been developed by TecStack.

This course is non-technical but does require basic knowledge about Blockchain Technology. The course follows on from the ‘Blockchain for Lawyers’ basic introduction to smart contracts.

This 4-hour short course is delivered online, or offline in a professional classroom training environment. Please contact us for exclusive corporate in-house training for your team.

$450 / pp + GST

Payment is required upfront to reserve your spot. Please refer to our Terms & Conditions.

  • Blockchain is one of the emerging technologies that lawyers need to explore because it helps prove authenticity, integrity, completion of a process, transparency, etc.
  • Blockchain technology holds promise for many other applications including real estate deals, portable secure health records, and financial transactions.
  • Blockchain is a transformative technology that is possibly revolutionising various industries and business processes. Read more

Blockchain, as an emerging technologies industry, is experiencing rapid growth. AI, IoT and Big Data, when integrated with blockchain creates entirely new opportunities and allows people to reimagine business from the ground up . Gaining career-level skills in blockchain will position you well to take advantage of the digital transformation that is happening across the world. McKinsey Global Institute predicts 800 million jobs will be lost by 2030 as technology advances and the world gets more and more automated.

Basic understanding of Blockchain Technology.

Blockchain is a distributed digital ledger technology. Records stored on the blockchain are immutable which provide transparency and trust in the network. This rapidly growing emerging technology is changing the way we do business. To learn more about what blockchain is check out this video.

Distributed ledger technology is being used across wide range of industries such as: 

Fintech, Supply chain, Finance, Agriculture, Health care, Governments, Entertainment, Real Estate, Travel, e-Commerce, Insurance, Legal, Digital Identity and many more. 

TecStack professional trainings are delivered by experienced industry experts and lecturers. Please refer to our team to learn more.

The ‘Smart Legal Contracts’ course has been developed by Chris Dorian, founder and CEO of BuildSort. A BIM/GIS/Blockchain based collaboration tool for everyone in construction, from large-scale infrastructure to a small residential renovation everyone has the same problems.

Chris has been a Structural Engineer for 17 years, the last 8 years he has run his own consultancy, and for the last 4 years of that he has been building applications for the built environment. Chris built his first game on a C64 when he was 8yrs old.

At present there is no course funding available. Please contact your employer to find out if they cover your continuing professional development.

Blockchain is an emerging technology this growing rapidly and will integrate with other technologies such as artificial intelligence and IoT. Up-skilling yourself in the emerging technologies will increase your chances of career opportunities in the future. McKinsey Global Institute predicts 800 million jobs will be lost by 2030 as technology advances and the world gets more and more automated. 

Have you ever thought about whether your job is actually going to exist in 10 years time?