There is no doubt as to the vast benefits of using blockchain and smart contract technologies as a way to create a fair and transparent approach towards commercial contracting.
Being so nascent, blockchain presents a unique opportunity for lawyers to position themselves as trusted strategic advisors to clients. However, the question regarding the regulatory framework surrounding blockchain technology remains.
It is necessary for lawyers to get on with the times and become familiar with blockchain and smart contracts technologies and especially understand how it is impacting clients and how it may impact the legal profession as a whole.
Reading time: 4 minutes, Photo by Mateus Campos Felipe on Unsplash
