Blockchain: An Ounce of Prevention

In an article in Above the Law, technology consultants David Perla and Sanjay Kamlani warn lawyers of the perils of learning about blockchain “on the fly.” One lawyer they work with knew nothing about the technology until his client was charged with an SEC violation for selling equity in his company on a public cryptocurrency exchange. The lawyer called Kamlani in a panic. “If you’re a lawyer,” they write, “and you think you don’t need to worry about blockchain, think again. At this very moment, there are criminal lawyers, securities lawyers, corporate lawyers, employment lawyers amongst others, learning about blockchain in a crunch because their clients are pressed with an urgent matter.” Perla and Kamlani point out that many lawyers have ignored the need to learn about web-based finance on the basis of forecasts that question the permanence of  Bitcoin and other cryptocurrencies. “Blockchain is not…

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