June 2018, Vol. 245, No. 6

Features

The Unsinkable: A Look at Blockchain’s Potential and Pitfalls

By Michael Brooks and Philip Wiseman, Bracewell LLP Imagine a world where every dekatherm of natural gas is allocated and title is electronically recorded at the wellhead or tailgate of a gas processing plant, and every subsequent change in ownership is recorded along the way such that there is a readily available chain of title when it reaches the burner-tip. Imagine, too, that each pipeline that transports or stores the gas adds a tag that identifies the location of the gas and the customer and contract to which it is allocated. Finally, imagine all of this is automated, immutable and easily auditable. For better or worse, blockchain has the potential to make this world a reality. In a

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