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Smart Contracts and Blockchain
As the entertainment industry continues to assess digital blockchain-distribution technology for tracking transactions, it's essential to consider the legal implications for smart-contracting and contract management.
The blockchain is a series of permanent files of record or transaction data. Its blocks are referenced by hash pointers to form a chain sequence that grows in a linear fashion over time as blocks are added sequentially using cryptography. These chains cannot be pulled apart, however, and blocks may not be swapped out. The chain, sequence and content of each block are permanent. Additional blocks may be added in accordance with the underlying rubric or coding of the chain. Any additional blocks are viewable by each person or entity that has access to the original chain via the blockchain platform.
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