More importantly, blockchain users can program their own rules into a smart contract to execute specific tasks.
For example, management can encode company-specific rules into smart contracts to enable automatic controls (Dai and Vasarhelyi 2017).
Vasarhelyi, “Towards Blockchain-based Accounting and Assurance,” forthcoming, 2017).Those computers together verify transactions based on certain prespecified rules (controls) that have been embedded in the system.To avoid a single point of failure, the transaction verification process is controlled by all the computers, rather than managed centrally.Download VCard Phone: (610) 225-0285 Email: [email protected] Stecker, a partner of the firm, is a 1997 graduate of Franklin & Marshall College and a 2000 graduate of Villanova University School of Law. Stecker served as an Executive Member of the Moot Court Board and represented Villanova in national competitions, including the Jerome Prince Memorial Evidence Competition at Brooklyn Law School, the August A. Starting in 2006, the firm was at the forefront of the national investigation and prosecution of derivative stock option backdating cases and was appointed Lead or Co-Lead Counsel in scores of these cases. Stecker was personally involved in those cases, which collectively resulted in the recovery of over 0 million in settlements for the subject corporations. Stecker has personally been involved in many other significant shareholder derivative actions, certain of which have expanded or secured the rights of stockholders. Stecker’s involvement in prosecuting derivative and securities actions has produced many important and influential opinions issued by state and federal courts across the country, including federal appellate decisions.Rendigs Products Liability Competition at the University of Cincinnati School of Law, and the Mardi Gras Sports Law Invitational at Tulane University School of Law.