WATCH VIDEO: Theoretical No More: Blockchain Technology, Cryptocurrencies and the Tax, Legal and Business Implications

While still in its nascent stages, blockchain technology is poised to significantly alter the way businesses store and exchange value—promising to secure transfer of value and data, while enhancing cybersecurity and data privacy without an intermediary.

Blockchain has application in numerous, diverse industries, including finance, real estate, healthcare, government, art, music and film, to name a few. Specific uses of it range from land transfers and property title registrations to personal identification and passport documentation—and from management of health records to vehicle registrations and government applications that require identity verification.

The technology has also facilitated the rise of cryptocurrencies as an alternative to traditional banking, leading to new and important questions about tax, legal and business implications.

Buchanan and blockchain and cryptocurrency experts and industry leaders held an interactive panel discussion on:

• Blockchain Technology: What Is It and Why Does It Matter?
• Business Uses of Blockchain Technology
• The Rise of Initial Coin Offerings and Cryptocurrencies
• The Legal Landscape: Tax and Regulatory Implications and Litigation Trends
• The Future of Cryptocurrencies

Panelists included:

• Robert Kohlman (Moderator) – Shareholder, Litigation | Buchanan
• Sahel Assar – Counsel, Tax | Buchanan
• John Cunningham – Shareholder, Litigation | Buchanan
• Yaury Jattin – Principal, Tax| Kaufman Rossin
• Paul Robertson – Senior Investment Strategist | AllianceBernstein
• Jennifer Olmedo-Rodriguez – Shareholder, Litigation | Buchanan

Following the event, Sahel, John and Jennifer outlined the six most pressing questions that individuals and companies who are interested in the cryptocurrency world may want to think about.