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Originally published by Thomson Reuters: Blockchain has captivated developers and innovators worldwide, and tech pioneers outside the G-7 are looking to leverage blockchain in the legal and financial spheres to their competitive advantage. That is especially true in the Middle East, where blockchain concepts and pilots are quickly being adopted in Islamic finance. Blockchain, the most famous of distributed ledger technologies, is a peer-to-peer, shared digital database of transactions encrypted and confirmed by computers on the blockchain network. Transactions are encrypted and recorded in “blocks,” and each block is added to the ledger, or “chain.” Transactions are recorded…
By Peter Colin and ,Marc Jacobson ,Originally published on the New York State Bar Association’s Entertainment and Sports Law Blog The World Intellectual Property Organization revealed a new global online business service, The idea is the service is Each token costs 20 CHF, or roughly $21 USD. Premium certificates, PDFs confirming a token’s validation signed and stamped by WIPO can also be requested for the same price, although not necessary to the WIPO PROOF To use WIPO PROOF, creating a WIPO account is required. WIPO account holders would connect to the The token becomes invalid if the original file is…
Cowritten with Eric Seader. Originally published by Thomson Reuters. The COVID-19 pandemic is forcing changes in the way the world (including the world of business) works to such a degree that the effects are sure to extend far beyond the current situation. Aside from potentially devastating entire industries such as travel, restaurants, and entertainment, the impact of today’s crisis will truly become a watershed event — to be measured in before-COVID and after-COVID nomenclature — that will alter almost every economy, business, and market in the world, including the legal industry. In the legal world, there are currently a variety…
Cowritten with Eric Seader. Originally published by Thomson Reuters. The COVID-19 pandemic is forcing changes in the way the world (including the world of business) works to such a degree that the effects are sure to extend far beyond the current situation. Aside from potentially devastating entire industries such as travel, restaurants, and entertainment, the impact of today’s crisis will truly become a watershed event — to be measured in before-COVID and after-COVID nomenclature — that will alter almost every economy, business, and market in the world, including the legal industry. In the legal world, there are currently a variety…
Few tech topics captivated our collective conscious quite like blockchain did in the last half of the previous decade. Real adoption of this innovative technology has materialized in banking, finance, law enforcement, energy, insurance, real estate, supply chain management, and practically every other business sector.Looking forward into the next 10 years, several blockchain use cases are likely to be dominated by certain key trends. AML & the international stage As the technology underpinning cryptocurrencies, anti-money laundering (AML), and international monetary policy will still be front and center for the coming decade. “We’re going to make sure that bitcoin doesn’t become…
Few tech topics captivated our collective conscious quite like blockchain did in the last half of the previous decade. Real adoption of this innovative technology has materialized in banking, finance, law enforcement, energy, insurance, real estate, supply chain management, and practically every other business sector.Looking forward into the next 10 years, several blockchain use cases are likely to be dominated by certain key trends. AML & the international stage As the technology underpinning cryptocurrencies, anti-money laundering (AML), and international monetary policy will still be front and center for the coming decade. “We’re going to make sure that bitcoin doesn’t become…
Few tech topics captivated our collective conscious quite like blockchain did in the last half of the previous decade. Real adoption of this innovative technology has materialized in banking, finance, law enforcement, energy, insurance, real estate, supply chain management, and practically every other business sector.Looking forward into the next 10 years, several blockchain use cases are likely to be dominated by certain key trends. AML & the international stage As the technology underpinning cryptocurrencies, anti-money laundering (AML), and international monetary policy will still be front and center for the coming decade. “We’re going to make sure that bitcoin doesn’t become…
The overlap between software companies and law firms may be spreading, but not without casualties. The latest may be the many lawyers that had until this week worked for the well-funded legal start-up Atrium. On January 13, the company Atrium had hoped to be Atrium was not the first company to explore this idea, with similar start-ups exploring this model in the U.S., Canada, Europe, and the United Arab Emirates. However, Atrium had some advantages: It had amassed $75 million in venture funding since it was founded in 2017 and had start-up star Kan, founder of Twitch, at the helm.…
The overlap between software companies and law firms may be spreading, but not without casualties. The latest may be the many lawyers that had until this week worked for the well-funded legal start-up Atrium. On January 13, the company announced the layoff of most of its legal staff and outlined a shift in its business model toward technology services, jettisoning its earlier goal to disrupt the law firm model via subscription services. Or, as Atrium co-founder and CEO Justin Kan told the tech press: “It’s a natural evolution for us to create a sustainable model.” Atrium had hoped to be…
The overlap between software companies and law firms may be spreading, but not without casualties. The latest may be the many lawyers that had until this week worked for the well-funded legal start-up Atrium. On January 13, the company announced the layoff of most of its legal staff and outlined a shift in its business model toward technology services, jettisoning its earlier goal to disrupt the law firm model via subscription services. Or, as Atrium co-founder and CEO Justin Kan told the tech press: “It’s a natural evolution for us to create a sustainable model.” Atrium had hoped to be…
“Now let me welcome everybody to the Wild Wild West A state that’s untouchable like Eliot Ness” -Tupac Shakur Is the practice of law in west coast states really untouchable? Rules on law firm ownership and nonlawyer ability to provide legal delivery services could be changing in some western American states, ushering in possibilities of industry-shaking changes to the practice and the business of law. Utah, California, Arizona, and Washington have each made headlines in recent weeks as task groups begin to critically rethink ethic rules that have traditionally limited ownership in law firms to lawyers and regulated who can…
“Now let me welcome everybody to the Wild Wild West A state that’s untouchable like Eliot Ness” -Tupac Shakur Is the practice of law in west coast states really untouchable? Rules on law firm ownership and nonlawyer ability to provide legal delivery services could be changing in some western American states, ushering in possibilities of industry-shaking changes to the practice and the business of law. Utah, California, Arizona, and Washington have each made headlines in recent weeks as task groups begin to critically rethink ethic rules that have traditionally limited ownership in law firms to lawyers and regulated who can…
“Now let me welcome everybody to the Wild Wild West A state that’s untouchable like Eliot Ness” -Tupac Shakur Is the practice of law in west coast states really untouchable? Rules on law firm ownership and nonlawyer ability to provide legal delivery services could be changing in some western American states, ushering in possibilities of industry-shaking changes to the practice and the business of law. Utah, California, Arizona, and Washington have each made headlines in recent weeks as task groups begin to critically rethink ethic rules that have traditionally limited ownership in law firms to lawyers and regulated who can…
Facebook has officially introduced its cryptocurrency to the world. Called Libra, it will function as a stablecoin, allowing Facebook’s two billion users to make purchases across Facebook’s various platforms by 2020. Stablecoins The coin will be governed by the Libra Association, a consortium of companies including Visa, Mastercard, Uber, Spotify, Coinbase and PayPal among others NYU Professor and Economist Nouriel Rubini, when discussing Libra, observed “It has nothing to do with blockchain” due to the coin being “fully private, controlled, centralized, verified and authorized by a small number of permissioned nodes.” While a cryptocurrency hallmark is its underlying public and…
Facebook has officially introduced its cryptocurrency to the world. Called Libra, it will function as a stablecoin, allowing Facebook’s two billion users to make purchases across Facebook’s various platforms by 2020. Stablecoins are cryptocurrencies designed to maintain a single market price. Differing from bitcoin, whose value is based on scarcity of available bitcoins, stablecoin value is tied to Fiat currencies or other assets such as commodities, other cryptocurrencies, or other crypto-collateralized or algorithm-backed non-collateralized assets. Because of this anchor, stablecoin usage in commercial transactions has increased in recent years, as has holding stablecoins for treasury or investment purposes. Libra will…
Facebook has officially introduced its cryptocurrency to the world. Called Libra, it will function as a stablecoin, allowing Facebook’s two billion users to make purchases across Facebook’s various platforms by 2020. Stablecoins are cryptocurrencies designed to maintain a single market price. Differing from bitcoin, whose value is based on scarcity of available bitcoins, stablecoin value is tied to Fiat currencies or other assets such as commodities, other cryptocurrencies, or other crypto-collateralized or algorithm-backed non-collateralized assets. Because of this anchor, stablecoin usage in commercial transactions has increased in recent years, as has holding stablecoins for treasury or investment purposes. Libra will…