Author: Michael J. Casey
Release Date: September 28, 2017
Abstract:
A new phenomenon—initial coin offerings—enabled through blockchain technology is upending basic tenets of 20th century capitalism. This project studies the development and ramification of the emerging token economy, its viability, and the legal and policy ramifications in terms of securities law and property rights.
With decentralization as a key design tenet, distributed ledger technologies are difficult to govern with centralized models of organizational oversight. While cryptoassets, smart contracts, and blockchains create efficiencies and mitigate certain known business risks, they introduce a unique set of risks. This project outlines strategies for managing, measuring, and mitigating these risks. For enhancing controls, its authors map out an integrated control framework with standards, roles, and responsibilities. They also look at audit and assurance of Dapps, proof of solvency, and regulatory compliance. Finally, they present an investor’s playbook with red flags for executives as they size up their blockchain opportunities. It is a must read for enterprise leadership.
Read MoreThis project explores one of the most critical implementation challenges of blockchain technologies: interoperability. Enterprise uses are reluctant to tokenize their assets or invest seriously in decentralized finance and digital asset management capabilities without assurances that they will be able to move these assets across blockchain platforms. What if chosen platforms fail? What if better platforms emerge? Some of the best minds in the space are addressing these issues head on with a range of innovative solutions. This project features two of them: Cosmos and Polkadot. It looks at their origins and ethos, architecture and core technology components (including the role of their native tokens ATOM and DOT), consensus and governance, and the applications already using them. Finally, the author reviews what enterprise decision-makers need to know as they weigh their options.
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