Too much blockchain is barely enough! This morning we have: Lawyers & ICO’s, Accenture securing a patent for its ‘Editable Blockchain’ technology as well as Maltese lawyers, Camilleri Preziosi, penning an article on the legal issues of blockchain and USA gaming law firm Segev LLP starting up a new blockchain legal practice.
Title: How to Legitimize the ICO Market (Crypto Lawyers Take Note)
Date: 1 October 2017
Extract: There is also another group in the old world experiencing a growing fascination with ICOs: lawyers. The trend can be measured by the unbelievable number of new legal publications, the opening of blockchain practices and departments in numerous law firms, the number of lawyers who include the word “blockchain” in their LinkedIn profiles, and so on.
This has happened for at least a few reasons, the first being that blockchain by itself is a captivating subject for lawyers; the concept of smart contracts, for example.
But there is also a very practical reason why lawyers want to deal with tokens and ICOs: it’s a new market for their services. While still a niche subject of expertise, there is serious money involved and huge potential for continued growth.
There is also a huge demand for legal services. Legal support is usually needed in all major transactions, but in the case of ICOs, this is particularly important because the demand for lawyers is fueled by legal uncertainty and regulators’ approaches.
Title: Blockchain: Dissecting the Legal Issues
Author: Camilleri Preziosi Law Firm Malta
Date: 30 September 2017
Extract: DAOs do not have a clear and precise legal status because they are currently not directly regulated. They are not (strictly speaking) companies; they need not have a memorandum of association, for example. Once a DAO is created through the execution of a smart contract, human involvement is limited as the DAO’s management and control is automated under the smart contracts and decisions taken on the operation of the DAO are carried out by collective votes.
Title: Accenture Secures Patent for Its ‘Editable Blockchain’ Technology
Author: Coin Telegraph.com
Date: 29 Sepetmebr 2017
Extract: Professional services provider Accenture has secured a patent related to its work on ‘editable Blockchain’ technology as of late September 2017. The permissioned Blockchain would enable parties to edit data in cases of errors or fraud. According to Accenture’s Blockchain practice managing director David Treat, the editable Blockchain concept was intended to resolve the issue of how to ‘fix things when they go wrong,’ and as a way to help move the technology toward ‘maturity.’ “This invention adds to that set of options, particularly for on-chain data structures, and we’re excited about the patent approval. Our overall goal is to leverage DLT innovations to make the technology viable for enterprise IT use.”
Title: Segev LLP unveils blockchain, cryptocurrency practice
Date: 29 September 2017
Extract: North American legal firm Segev LLP has developed a new blockchain and cryptocurrency practice to further support its various clients.The practice will support those turning to blockchain technology solutions for their software platforms, and for raising capital by way of token generation events or initial coin offerings (ICO).Segev LLP has also revealed that it has been appointed to the advisory board of FansUnite.io to support its token sale, which is due to go live in October.The firm is already acting as an advisor to FansUnite, which pledges to offer a platform with ”greater security and transparency” to members, at a price up to 80 per cent lower than traditional sportsbooks.Ron Segev, founding [artner of Segev LLP, said: “As a technology firm, we are used to innovating new practice areas as our clients innovate new businesses and technology.“We have a track record of advising on emerging, often highly regulated ventures, such as online gaming.”Darius Eghdami, chief executive of FansUnite.io, added: “We are excited to partner with Segev LLP for our upcoming ICO and the development of our innovative sports betting platform.“With their leading igaming legal team, advanced understanding of blockchain technologies, the token-sale process, and token-sale legal issues, Segev LLP was the ideal partner to help us deliver the highest quality block chain enabled sports betting experience to our valuable customers.”
Title: Looking Through an IP Lens at Blockchain and Cryptocurrency
Author: Lexology / Manatt Phelps & Phillips LLP
Date: 28 September 2017
Extract: The cryptocurrency industry is booming, and with it the underlying blockchain technology that makes it run. As with any new industry (think back on the advent of smartphones), over the past five years there has been a rapid increase in patent applications filed with the USPTO by entrepreneurs and financial institutions looking to monetize some application or variation of the blockchain. We explore the origin, developments and ownership of blockchain technology further below.
Title: Polymath Unveils Stacked Board of Advisors, First Token Issuers & a ‘GitHub for Lawyers’
Author: Blockchain News
Date: 1 October 2017
Extract: Powered by the Blockchain and smart contract technology, Polymath enables digital tokens to represent shares in traditional financial assets like private equity, stocks, debentures, commodities, VC funds, real estate, royalties, and insurance – assets that function far better as tokens…/…To transform the legal phase of a securities token sale, Polymath is also launching an entirely decentralized, crowd sourced repository for legal counsel and regulatory guidance, where lawyers and Blockchain professionals can contribute to,and be rewarded for, flagging and updating the evolving global securities regulations.