Gravel & Shea Partner Ethan McLaughlin participated in a recent panel held by the Vermont Technology Council as part of Vermont Innovation Week 2018. The lunch and learn panel discussion focused on blockchain technology and opportunities in Vermont. Ethan was joined on the panel by Chris Day, business advisor to RapidQube; Michael Ly, founder and CEO of Reconciled; and Josh Decatur, co-founder and CEO of Gravel & Shea client Trace LLC.
As a member of the Gravel & Shea Blockchain Technology Practice Group, Ethan has expertise in legal issues faced by blockchain companies and has been active in legislative efforts in Vermont to enhance opportunities for blockchain companies.
While many in the assembled crowd were well-versed in blockchain, the technology and its implications were new to some. “Blockchain,” Ethan told the audience, “is the digital equivalent of being able to write something in stone. It’s unalterable and secure.”
Ethan also provided an overview of blockchain law and Vermont legislative activities, like the recent passage of S.269, that have created advantages for blockchain companies doing business in the state. “Vermont is leading the country in creating laws recognizing and enabling blockchain technology companies,” Ethan said, mentioning Vermont’s evidentiary rule that allows information recorded in blockchain to be self-authenticating as well as the creation of blockchain-based limited liability companies (BBLLCs) and personal information protection companies (PIPCs). He also shared that Vermont’s receptiveness to the technology is encouraging more blockchain companies to do business in the state.