October 25, 2017 – FinTech and Blockchain Law Watch

K&L Gates Becomes One of First Major Law Firms to Implement Own Private Blockchain

Oct 25 2017

K&L Gates has undertaken plans to establish an internal, private and permissioned blockchain to assist in the exploration, creation, and implementation of smart contracts and other technology applications for future client use.

“We are hearing from our lawyers globally who are excited about getting hands-on experience working with blockchain applications,” commented K&L Gates Global Managing Partner James Segerdahl. “By investing in this technology that is expected to significantly impact the practice of law, K&L Gates is committed to finding practical and timely solutions that benefit both our clients and the firm.”

Next FinTech Steps in Bahrain

Oct 25 2017

By Jonathan Lawrence

The Central Bank of Bahrain (CBB) has announced the creation of a FinTech Unit. The aim of the Unit is to ensure the services are provided to individual and corporate customers in the FinTech sector. The announcement follows the CBB’s recent initiatives, which include a Regulatory Sandbox (which four companies have entered to date), in addition to the issuance of crowdfunding regulations for both conventional and Sharia compliant services.

The proposed Fintech Unit will be responsible for the approval process to participate in the Regulatory Sandbox, supervision of licensed companies’ activities and operations, including cloud computing, payment and settlement systems, and monitoring technical and regulatory developments in the FinTech field.

Archive:October 25, 2017