International Law Firm Steptoe Joins Global Blockchain Business Council

Washington-headquartered Steptoe & Johnson is an international law firm with more than 500 professionals in offices in Beijing, Brussels, London, New York, Palo Alto, and other major cities around the world. It will serve as a member and legal services partner of the Global Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term Business Council (GBBC), which was launched in Davos around the World Economic Forum.

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Steptoe was one of the first law firms to establish a global, multidisciplinary Blockchain practice, led by two former top American regulators. The firm helped create and currently serves as counsel to the Blockchain Alliance—a coalition of over 60 Blockchain companies and law enforcement and regulatory agencies worldwide.

Steptoe’s role as the legal services partner will complement the previously announced role of Covington, as the GBBC’s government relations partner.

“We are very excited to add Steptoe to the GBBC team. As one of the world’s leading law firms on Blockchain technology, they have been integral in establishing the legal DNA of this industry. Steptoe’s expertise will provide a tremendously valuable resource for GBBC members—and for any company or industry considering applications for Blockchain technology,” said Valery Vavilov, CEO of the Bitfury Group.

“Steptoe is proud to partner with the GBBC to educate companies around the world about the opportunities presented by Blockchain technology. Much like the Internet, the Blockchain has the potential to revolutionize the way both companies and governments do business. We look forward to working with the GBBC to help companies better understand Blockchain technology and learn how to implement this technology in the most efficient, secure manner in Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with all relevant laws and regulations,” said Jason Weinstein, co-chair of Steptoe’s Blockchain and Digital Currency Group.