Smart Contract Law

Smart contracts are essentially programmable events that occur once a condition is met. They consist of computer code that controls a digital asset. One easy way to think of smart contracts is a series of automated events based on “if this, then that” statements.

Album as an NFT, smart contract that charges and sends royalties automatically to the artist.

NFT on a sports ticket for resale. Smart contracts can prevent resale. Or if being sold on the secondary market for additional value (such as Stubhub), they can require that a percentage of the additional value go directly to the team instead of the re-seller (scalper).

Evolving regulatory frameworks:

  • Financial Crimes Enforcement Network (FinCEN) anti money laundering,transaction reporting, national security.
  • Securities and Exchange Commission Token offerings, exchanges.
  • Commodity Futures Trading Commission Token sales, options.
  • State Regulators Money Transmitter regulation and other state specific laws.

The Davis Law Firm is located in Jacksonville, Florida and serves clients throughout the states of Florida and Georgia, including Jacksonville, Miami, Pensacola, Orlando, Tampa, St. Petersburg, St. Augustine, Fort Myers, Daytona Beach, Panama City, Destin, Melbourne, Fort Lauderdale, West Palm Beach, Tallahassee, the Florida Keys, and everywhere in between.

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