Matt Savare and Bryan Sterba address the major elements of open-source software (OSS) and how it is being utilized by fund managers, in an interview with the Hedge Fund Law Report. In the first of a three-part series, Savare explains blockchain’s relation to open source, and how it can facilitate the settlement of international transactions in a fraction of the standard time. Sterba provides insight into the workings of copyleft licenses, including how some organizations navigate stringent licensing requirements. In part two, Savare and Sterba discuss the benefits of OSS, including its proper use and how it can equal cost savings if implemented correctly, as well as the security risks and license restrictions. In part three, Savare and Sterba evaluate actions fund managers can take to mitigate OSS risks, including policies, procedures and controls to adopt; ways to deal with third-party vendors; and due diligence.