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Confused about the Blockchain, Crypto Currency and Initial Coin Offerings are and what their application to legalized marijuana is?
The "Blockchain" is an immutable, decentralized ledger. Think of it as global, apend-only database in which each block incorporates prior block's content and authenticates, processes and tracks transactions. Because blockchain transactions are cryptographically entered, entries are protected from tampering or manipulation.
Crypto Currency is a "store of value" and "method of value exchange" often referred to as digital currencies, that is exchanged and tracked over a blockchain. Instead of storing value in legal tender, Crypto Currency's "currency" takes the form of "digital tokens" which are a string of numbers on a block chain likeprepaid gift card.
An Initial Coin Offering ("ICO") is a method of raising capital by selling Crypto Currency to investors in the form of "tokens" promoted as future functional units of currency when the ICO's funding goal is met and the project launches. While providing a means of avoiding regulatory compliance costs and intermediaries, such as venture capitalists, bank and stock exchanges, fewer than half of all ICOs survive 4 months after the offering.
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Obtain understanding of legalized marijuana industry including both plant-touching and non plant touching aspects.
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Grasp the basics of blockchain, cryptocurrencies, digital tokens, smart contracts and intial coin offerings.
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Learn of certain offerings of, and instruments and products tied to, digital tokens.
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Understand regulators’ evolving views of digital tokens and token sales.
2019 National Law Journal “Finance, Banking, & Capital Markets Trailblazer” award winner Steve Schain represents entities, governments, and individuals in litigation, regulation, compliance, loan drafting, licensing applications, and entity formation. A nationally recognized financial services, consumer finance litigation, banking law, and cannabis law expert, Steve is a The Legal Intelligencer, New Jersey Law Journal, and Cannabis Business Executive columnist and serves as a court-appointed judge pro tempore and arbitrator.
Steve is also an Adjunct Faculty Member, and teaches “Cannabis Law” at Stockton University, one of only five universities offering a minor in Cannabis Studies. Steve serves on and makes regular presentations to National Cannabis Industry Association, International Cannabis Bar Association, Pennsylvania Credit Union Association, Bank Secrecy Act Compliance Group, and Marijuana Business Daily. Steve also serves on both Commonwealth of Pennsylvania, Washington State, Utah, and Philadelphia County administrative committees charged with drafting and revising state and local cannabis-related regulations.
Steve earned his B.A. degree from Pennsylvania State University and his J.D. degree from the University of Pittsburgh School of Law, where he served as an editor of the Law Review and graduated with honors. Before entering private practice, Steve served as a law clerk to a U.S. District Court judge for the Eastern District of Pennsylvania.
About Our Presenter
The HLG family of attorneys are industry pioneers responsible for developing legal strategies and advancing litigation in critical areas that have contributed to the growth of this nascent industry. This is a global industry and HLG embodies international professionalism. Their team of experts are fluent in numerous languages, including Portuguese, Spanish, Polish, Dutch, and German.
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