Blockchain and the Legal Profession
Lewis Cohen, Priyanka Desai, David Fisher, Joanne Frears, Alvin Lam, Robert Millard, Vijay Rathour, John Sheridan, Krzysztof Wojdyło, Tyler Woods
Published: 2021
Pages: 118
eBook: 9781787426016
An in-depth look at the impact Blockchain will affect the legal profession, both in terms of how processes will change in the future, and the legal issues that lawyers will have to become aware of in an increasingly digital era.
Table of Contents
| Cover | Cover | |
|---|---|---|
| Title page\r | i | |
| Copyright page\r | ii | |
| Contents | iii | |
| Executive summary | vii | |
| About the authors | xi | |
| Chapter 1: Will Blockchain change the legal world? | 1 | |
| Blockchain | 2 | |
| Full node | 3 | |
| Miners | 3 | |
| Hash | 3 | |
| Private Blockchain | 4 | |
| Public, Open or Permissionless Blockchain | 4 | |
| Some historical context to Blockchain | 4 | |
| Will Blockchain disrupt legal practice? | 5 | |
| Could Blockchain make lawyers redundant? | 7 | |
| Will Blockchain replace lawyers entirely? | 8 | |
| Why this book is important | 9 | |
| Chapter 2: The evolution of law in a peer to-peer technology world | 11 | |
| Digitization of law | 12 | |
| The business of law | 13 | |
| The practice of law | 15 | |
| Chapter 3: Blockchain’s likely impact on law firm business models | 19 | |
| Impact on client legal needs | 22 | |
| Opportunities to enhance efficiency and performance within law firms | 24 | |
| Where Blockchains will likely compete with law firms | 25 | |
| How will Blockchains affect the fundamental business model of law firms? | 25 | |
| What law firms should be doing now | 28 | |
| In conclusion | 29 | |
| Chapter 4: Smart contracts – hope for the law? | 31 | |
| Introduction | 31 | |
| Diagnosis | 31 | |
| Where is the change? | 32 | |
| Where are the benefits? | 33 | |
| What are the risks? | 34 | |
| Challenges | 35 | |
| Regulatory protocol | 37 | |
| A new source of law | 38 | |
| Conclusions | 39 | |
| Chapter 5: The legal enforceability of smart contracts | 41 | |
| Introduction | 41 | |
| Smart contracts defined | 41 | |
| Smart contracts as legal contracts | 42 | |
| UETA | 44 | |
| E-Signature Act | 45 | |
| Conclusion | 46 | |
| Chapter 6: The chain of custody – Blockchains of trust | 49 | |
| Why a Blockchain? | 49 | |
| Storing evidence in a DLT | 50 | |
| The chain of custody | 51 | |
| The traditional route | 52 | |
| Digital fingerprints | 53 | |
| Types of Blockchains | 53 | |
| Trust in the chain | 54 | |
| Strengths and weaknesses | 55 | |
| Conclusions | 56 | |
| Chapter 7: The role of Blockchain in archives | 57 | |
| Introduction | 57 | |
| Key features of Blockchain technology for archives | 59 | |
| What information to write to the Blockchain? | 60 | |
| How might the Blockchain engender greater trust in archives? Enables archives to be defenders of the record | 62 | |
| Creating a permanent Blockchain | 63 | |
| Conclusion | 64 | |
| Chapter 8: Exploring the Blockchain patent landscape | 67 | |
| Introduction | 67 | |
| What is a patent? | 69 | |
| Patent analysis | 70 | |
| Who is actively pursuing patent protection? | 75 | |
| What is being protected? | 79 | |
| Conclusion | 90 | |
| Chapter 9: Blockchain, digital tokens, and capital raising – what next? | 93 | |
| A changing landscape | 93 | |
| The ICO catalysts – “house money,” opportunity, liquidity | 94 | |
| Enter the regulators | 96 | |
| Munchee – security or commodity? | 98 | |
| Recent developments | 99 | |
| A path forward? | 101 | |
| Conclusion | 102 |
Joanne Frears
https://www.linkedin.com/in/joanne-frears-techlioness/
Solicitor, Leader in IP/Technology Law
David Fisher
https://www.linkedin.com/in/davidfisher14/
Founder and CEO at Integra
Robert Millard
https://www.linkedin.com/in/robmillard/
Robert Millard is director of Cambridge Strategy Group (CSG,) a virtual management consultancy in the UK that utilizes a sophisticated digital collaboration platform to leverage a network of leading specialists in a variety of areas of business strategy and management. The firm is focused primarily on professional services and other deep knowledge enterprises. Rob is immediate past co-chair of the IBA's Law Firm Management Committee and currently serves on the steering committee of the IBA's "President's task force on the future of legal services". He is based in Cambridge, UK, but his clients span the globe.
Krzysztof Wojdylo
https://www.linkedin.com/in/krzysztof-wojdylo-9a6953ba/
Partner at Wardynski & Partners, Warsaw
Joshua Ashley Klayman
https://www.linkedin.com/in/joshua-ashley-klayman/
Blockchain & Finance Transactional Law | Founding Chair & Co-Chair, Blockchain + Smart Contracts
Vijay Rathour
https://www.linkedin.com/in/vijayrathour/
Vice president, Stroz Friedberg.
John Sheridan
https://www.linkedin.com/in/johnlsheridan/
Digital Director, National Archives
Alvin Lam
https://www.linkedin.com/in/alvinlam-gb/
Patent Attorney, Maucher Jenkins
Lewis Cohen
https://www.linkedin.com/in/lewis-cohen-a3211410/
Lawyer, DLX Law