Blockchains & Cryptocurrencies

Blockchains are a blend of three older technologies (encryption, peer-to-peer networks, and game theory) that provide a novel method of recording transactions when the parties to the transaction do not (or cannot) trust each other.  In the past, the task of brokering transactions fell to third parties, such as banks and escrow agents.  Blockchains enable the eliminations of those "middle-men" with a single "middle-thing," and thus lends itself to automation. 

Blockchains have given rise to several types of applications, namely cryptocurrencies (such as Bitcoin) by recording currency transfers, as well as "smart contracts" by recording software instructions and data used by those instructions. 

Ron is currently the Chair of the Blockchain Committee of the Business Law Section of the State Bar of Texas, and stays quite active in this area, both for the technology as well as the legal implications of that technology.