Park & Dibadj participates at SAP Enterprise Blockchain Symposium 2018

We had the opportunity to present to a select audience of large enterprise organizations in the heart of Silicon Valley at a blockchain event hosted by SAP. The one-of-a-kind gathering featured individuals who are responsible for driving change in their organizations by developing, managing, and executing use cases for blockchain. Industries such as fintech, pharmaceutical, food and beverage, and telecom were represented. Organizations included Intel, PwC, UPS, HPE, EY, and many others.

The panel discussions focused on managing change to overcome industry challenges and address market needs. Think about the problem of enabling standardization and traceability in a supply chain for a 28,000 person, global organization with a large number of distributors, outlets, and third party vendors supporting this large operation. The problem is REAL and end-user needs are clear. Enterprise organizations experience enormous losses in resources, costs, and equipment due to inefficient distribution channels and a lack of communication across different technology systems and suppliers. The value of the blockchain for these organizations is trust, immutability of data, and the ability to move away from point-to-point systems. The end result is truly integrated supply chain networks.

In addition to discussing technological parameters, we discussed the legal implications of blockchain initiatives. Park and Dibadj’s Founder, Douglas Park, highlighted the importance of:

(1) properly constructing token economic models for legal and business purposes, noting that many token economies are unsustainable because they demonstrate a poor understanding of economics and behavioral science and often unwittingly create legal issues;

(2) managing the difference in the legal classification of a token across jurisdictions (e.g., security and utility token); and

(3) why large enterprises, from a business impact perspective, can potentially more easily manage the same blockchain legal issue than startups.

Douglas Park (Managing Partner of Park & Dibadj and PDK Strategies) talking about the legal ramifications of blockchain initiatives (second from right)

Why is having this conversation with this particular audience important? Large enterprise companies have the power to mandate and lead the change on industry standards. The challenge to achieving change is the multi-stakeholder environment organizations operate in. However, being in the conference room, you get a sense that we are making giant leaps towards a future with more decentralized applications and less operational complexity. Blockchain provides a transparent, cost effective, and highly efficient way of managing large sets of data yielding benefits that are worth pursuing.

Lenn Mendoza (Director of Strategy, Blockchain, of Park & Dibadj and PDK Strategies) learning about one of SAP’s forthcoming blockchain solutions

Our sister company, PDK Strategies, focuses on advising organizations on several key transformational areas necessary to implement a blockchain initiative: strategy, innovation, organization change, go-to-market readiness, and execution. Visit our website at https://www.pdkstrategies.com for more details on how we can help you.

In conclusion, blockchain has the potential to add a lot of value across many business ecosystems. It is important to focus on the business, technology, annd legal implications of blockchain to make it work for your organization.

Drop us a line at info@pdkstrategies.com with any questions or comments.

Park & Dibadj LLP — Trusted Legal Advisors

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We are innovative and highly responsive corporate and securities attorneys focused on blockchain, financing transactions, and business strategy.

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