Smart Contract Archives - Action Cyber Law

SEC v Colburn Consent Order (EtherDelta Exchange), File No. 3-18888

Blockchain DLT, Compliance, Cryptocurrency, Smart Contract, US Code

Synopsis of the Securities and Exchange Commission Proceeding and Order re: In the Matter of Zachary Colburn (EtherDelta Exchange), November 8, 2018 SEC Release No. 34-84553; Administrative Proceeding File No. 3-18888 SEC Colburn Cooperation: On November 8, 2018, the SEC issued an administrative consent ORDER instituting Cease-and-Desist Proceedings pursuant to Section 21C of the Securities Exchange Act of 1934 (“Exchange Act”) against the Respondent, Zachary Colburn, made Findings, issued a Cease-and-Desist Order, and imposed Remedial Sanctions including disgorgement of $313,000.00, a civil fine... Read More

Blockchain – the basic definition and function

Blockchain DLT, Smart Contract

WHAT IS BLOCKCHAIN? This article is provided by Action Cyber Times to give the reader a basic understanding of the blockchain distributed ledger technology. Definition: A computer generated “blockchain” is a term used to describe a data set comprising data transactions grouped into individual timestamped data ‘blocks’, mathematically linking these 'blocks' seriatim to form an unbroken set of data blocks, and then encoding the set of data blocks cryptographically for integrity and security, producing in computer speak, a “blockchain”. The concept is... Read More

SMART CONTRACT on a blockchain – a basic explanation

Blockchain DLT, Smart Contract

What is a blockchain 'SMART CONTRACT'? Action Cyber Times™ simple definition: A blockchain ‘smart contract’ is computer code, or 'depcode', that is dependent upon the original distributed ledger blockchain code protocol to activate its instructions autonomously and thereby perform some additional function required by the original blockchain programming. Basics of a Smart Contract The blockchain and smart contracts have been previously reviewed. To start, not only is use of the term ‘smart contract’ confusing in this business context with the blockchain... Read More