May 04, 2017

Jenner & Block Partner Brian S. Scarbrough is quoted at length in Risk & Insurance’s coverage of the RIMS 2017 Annual Conference and Exhibition in Philadelphia.  Titled “Blockchain Pros and Cons,” the article focuses on a sessionat which Mr. Scarbrough presented about blockchain, an innovative technology that can provide a solution against hacking and fraud.  The article quotes Mr. Scarbrough comparing blockchain to “one giant interactive and global spreadsheet” that displays real-time changes so every copy is identical and which no single user controls.  It is harder to hack or manipulate.  Mr. Scarbrough also notes that blockchain uses cryptography to validate and confirm transactions.  “Cryptography solves the threat of multiple networks being hacked,” he said in his presentation.  “Instead of trusting one central party, users trust a network of participants that keep each other honest through mass collaboration because they have to vote on each transaction to be added to blockchain, and cryptography aids that process.”