Law360 (January 4, 2021, 6:32 PM EST) — Blockchain technology is a digitized, distributed ledger that immutably records and shares information using software protocols and advanced cryptology.
The development of blockchain-based smart contracts — self-executing software algorithms integrated into a blockchain with trigger actions based on predefined parameters — has made it possible for parties to automate the process of executing commercial transactions between counterparties in a more direct, trustworthy and efficient manner.
Tokenization is the process of representing a fractional ownership interest in an asset with a blockchain-based digital token.
Each such security token represents direct ownership of an asset, such as a parcel of real estate, a…
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