UNLEASHING THE POTENTIAL OF BLOCKCHAIN APPLICATIONS IN BRAZIL

UNLEASHING THE POTENTIAL OF BLOCKCHAIN APPLICATIONS IN BRAZIL Brazilian-American Chamber of Commerce April 4 th, 2019

ABOUT ME CAMILA RIOJA ARANTES • Head of Legal Tech practice at Opice Blum, Bruno, Abrusio and Vainzof attorneys at law. • Co-organizer of São Paulo Legal Hackers. • Computational Law workshop course at MIT (2018) o Teacher Assistant (2019) • Hack. Brazil Mentor – Brazil Conference at Harvard & MIT (2019) • MIT Inclusive Innovation Challenge – Lat. Am judge (2018 and 2019) • Co-organizer of Open Media Legal Hack; CL+B Fest; Legal Hackers Lat. Am Summit - São Paulo. • Postgraduate Diploma in Economics for Competition Law at King’s College London (2015/2016) • Graduated from the Centro Universitário de Brasília – Uni. CEUB.

ABOUT THIS PRESENTATION UNLEASHING THE POTENTIAL OF BLOCKCHAIN 1. Blockchain 101 • Relevant Aspects o Distributed Ledger Technology o Transparency o Immutability o Cryptography • Smart Contracts 2. Brazilian Scenario: Receptiveness 3. Use Cases • Real Estate • Healthcare • Preservation

BLOCKCHAIN 101 -RELEVANT ASPECTS Values: Decentralization, transparency, security and privacy. • DLT: Distributed Ledger Technology. o Decentralized Database • Transparency: although the information (or blocks) is not on any server, every user (or node) has access to a complete copy of the information registered. Nodes participate in Blockchain administration through consensus mechanisms - which vary among Blockchains and are central to reliability

BLOCKCHAIN 101 -RELEVANT ASPECTS • Immutability: the concept is related to the fact that each new information (or block) is associated with the previous block in a verifiable way, which generates a unique sequence distributed through all users of the network - thus guaranteeing inviolability.

BLOCKCHAIN 101 -RELEVANT ASPECTS • Cryptography: from the Greek "kryptós" meaning hidden and "graphene" meaning writing, cryptography is the science that transforms information into numbers and letters unintelligible to those who do not have the key, or formula, to read the message. Values: Decentralization, transparency, security and privacy.

SMART CONTRACTS • Nick Szabo o jurist and computer scientist who pioneered cryptocurrencies. o coined the concept of “smart contract” in 1994: “acomputerized transaction protocol for the purposes of contractual obligations fulfillment, reducing the need for reliable intermediaries, breaches and related problems, whether accidental or malicious. ”

SMART CONTRACTS

BRAZILIAN SCENARIO: RECEPTIVENESS Government and Judiciary • Brazil has a public key to sign documents. • BNDES / Petrobras initiatives to be further discussed • Blockchain to register legal proofs • Notary Offices Civil Law: our legislation may already have what it takes to accept smart contracts • Under civil law, to be deemed valid, a contractual agreement must observe: o Agent capability (e. g. age / mental condition) o Licit, possible and determined object o Its form should either be expressly provided for or not expressly forbidden by law Ø Loophole Rulings • Brazilian Supreme Court decided on Sept. 20 that “electronic agreements” may, under certain circumstances, be fully enforced in the judiciary even without the witnesses signature (something our legislation requires for a more straightforward judicial procedure in this matter).

USE CASES: REAL ESTATE

USE CASES: HEALTH CARE

Camila Rioja Arantes @Mila. Rioja camila. rioja@opiceblum. com. br Thanks! Obrigada! 12