Artificial Intelligence (“AI”) and the Oil & Gas Industry

Artificial Intelligence (“AI”) and the Oil & Gas Industry

Oil, often referred to as black gold, is the most valued commodity in the energy sector; but, with mounting environmental concerns, companies are actively seeking innovative approaches to reduce environmental impact among other things. According to Markets and Markets research, Artificial Intelligence ("AI") in the oil and gas industry is expected to grow from 2017 [...]

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What You Need To Know About Anti-Money Laundering (“AML”) Compliance

What You Need To Know About Anti-Money Laundering (“AML”) Compliance

According to the US Department of Treasury, money laundering refers to "financial transactions in which criminals, including terrorist organizations, attempt to disguise the proceeds, sources or nature of their illicit activities." Recently, the Financial Industry Regulatory Authority ("FINRA") fined Industrial and Commercial Bank of China Financial Services LLC ("ICBCFS") "$5.3 million for systemic anti-money laundering [...]

The EU General Data Protection Regulation and The Blockchain

The EU General Data Protection Regulation and The Blockchain

The European Union's General Data Protection Regulation ("GDPR") will take effect in a few days on May 25, 2018 and will require businesses that process EU citizen's data to allow for increased privacy protections. Among the important changes is the right of erasure, also known as the "right to be forgotten" or the right to [...]

Unlock Blockchain Forum

Unlock Blockchain Forum

At this week's Unlock Blockchain Forum, Director General of Smart Dubai's keynote address stated that Dubai is taking steps toward becoming the blockchain capital of the world. In fact, there are already 20 public sector blockchain use cases and counting. According to the World Economic Forum, by 2021, Dubai aims to create: 1. A smart, liveable [...]

Taxation of Cryptocurrency

Taxation of Cryptocurrency

While 'Tax Season' may traditionally be from January 1st through April 15th for most individuals, it is a year-round consideration for those who hold and transact cryptocurrency assets. Internal Revenue Service ("IRS") Notice 2014-21 (the "Notice") is an important guidance for those in the crypto and digital currency space, especially when it comes to reporting profits. Under [...]

An IPO For the Ages: Saudi Aramco

An IPO For the Ages: Saudi Aramco

When I am not thinking about cryptocurrency's market valuation of over $700 billion dollars, I am eagerly anticipating Saudi Aramco's Initial Public Offering ("IPO"). Saudi Arabia is the world's largest oil exporter and there is much speculation about Aramco's value with figures ranging from $500 billion to $2 trillion being mentioned by Crown Prince Mohammad Bin Salman. [...]

Blockchain Technology: From Digital Currency to Digital Transformation

Blockchain Technology: From Digital Currency to Digital Transformation

Blockchain is a type of distributed ledger where value-exchange transactions are sequentially grouped into blocks. These blocks are chained and recorded in a peer-to-peer network. According to Harvard Business Review, there are five principles on how blockchain works: Distributed database No single party controls the information or data. Peer-to-peer transmission Communication occurs directly between peers. [...]