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Blockchain & The Law Roundup: 10 November 2017

Our end of week roundup reveals how entwined the world of big law has become with the blockchain in the last six months, the key phrase is, “Smart Contracts”.  All the obvious plays are being touted, M&A, cryptocurrencies & transactional work. But, do also take a look at our referenced article topping this week’s list . Smartone’s proposed ICO, Lexis Nexis & Thomson West better jump on the wagon, and quickly, if they want to be in this game.

 

Title: SmartOne Marketplace Brings Lawyers to the Blockchain in Groundbreaking ICO

Author: Digital Journal

Date: 10 November 2017

URL: http://www.digitaljournal.com/pr/3557410#ixzz4y4gF39Zm

Extract: 

The world’s first blockchain-based marketplace for legal services SmartOne, aims to deliver access to legal services for the crypto community. Lawyers and firms will be able to offer virtual legal advice following the LEGAL token ICO beginning on the 15th of November 2017. Early participants will receive a 10% bonus during the whitelisting phase while the project advances fast into setting a new legal status quo for the blockchain.

Efficient access to the law
SmartOne aims to become the legal voice of the crypto community by undertaking research and development, publishing articles and entering into dialogue with regulators. The goal: set a new standard for the legal clarification of ICOs and blockchain-based projects worldwide. The first step towards regulation is having access to suitable legal services. By ‘suitable’, SmartOne means services offered by lawyers who understand the blockchain and that are not charged on a timed basis. Instead, the law firms registered are prompted to automation in order to deliver their services as quickly and efficiently as possible.

Title: A Whole New World

Author: Legal Business Online

Date: 8 November 2017

URL: http://www.legalbusinessonline.com/features/whole-new-world/75082

Extract:  “At present, blockchain is typically equated to cryptocurrency, which is far too much of a simplification. However, it is the growth of cryptocurrencies in Asia that will lead to regulation, although this is likely to be restricted to cryptocurrencies only,” says Haswell. “Regulators are rightly concerned by the growth of cryptocurrencies, and the dangers to the consumer, particularly in light of the increase in Initial Coin Offerings, or ICOs.”

The challenges for rolling out blockchain technology in Singapore is probably no different from that in any other countries – that it’s still primarily technological in nature. From a legal perspective, according to Tan, there are no major impediments or roadblocks to the further roll out of blockchain technology in Singapore. In fact, the Singapore government has been very supportive of the use of such novel technology, offering incentives and grants to technology start-ups based in the country.

 

Title:   Meet LEXIT – a Blockchain Powered Marketplace for Mergers and Acquisitions. 100 million new businesses launched annually, and almost 96% of them fail. LEXIT is specifically targeting these businesses.

Author: Finance Magnates.com

Date: 9 November 2017

URL: https://www.financemagnates.com/cryptocurrency/news/meet-lexit-blockchain-powered-marketplace-mergers-acquisitions/

Extract:  To tackle this issue, Jason Corbett and Amir Kaltak founded blockchain firm LEXIT. This Estonian firm will provide a platform to the startup businesses for an easy merger and acquisition process.

The firm was founded by the trio Amir Kaltak, Deniss Raider and Maija Majamaki. The Chief Strategy Officer of LEXIT, Jason Corbett, is a professional lawyer and has an extensive experience working in the financial and blockchain industry.

Amir Kaltak, co-founder and CEO of LEXIT, unveiled this startup to the public at the Web Summit 2017 in Lisbon.

 

Title: Perkins Coie Is First Law Firm Selected as Sovrin Founding Steward.Sovrin uses blockchain technology for digital identities that cannot be taken away by any government.

Author: Finance Magnates.com

Date: 9 November 2017

URL: https://www.financemagnates.com/cryptocurrency/news/perkins-coie-first-law-firm-selected-sovrin-founding-steward/

Extract: Perkins Coie LLP, the US-based international law firm which helped form the Enterprise Ethereum Alliance, has been named a Founding Steward by the Sovrin Foundation. It is the first law firm to be selected.

The Sovrin Foundation is a private sector, international nonprofit organization established to govern the self-sovereign identity (SSI) network. Its stated aim is that people and organizations can create and control portable, self-sovereign digital identities that cannot be taken away by any government or organization.

“We’re honored to have been selected as a Sovrin Founding Steward,” said Dax Hansen, Chair of the firm’s Electronic Financial Services and Blockchain Technology & Digital Currency industry groups. “Our involvement in this initiative and others, including the Enterprise Ethereum Alliance, shows our continued position at the forefront of new, emerging technologies, and we look forward to supporting Sovrin as the SSI network grows and matures.”

 

Title: Blockchains, Smart Contracts and the Law EVENT

Author: Pillsbury Law Firm

Date: November 2017

URL: https://www.pillsburylaw.com/en/news-and-insights/blockchains-smart-contracts-and-the-law.html

Extract:  The Blockchains, Smart Contracts and the Law program discusses the biggest legal questions facing blockchain technology, and features top legal, tech and financial experts including Pillsbury senior associate, Andrew Caplan. Andrew will be discussing, “Analyzing Nature of Blockchain Transactions and Differences in Business Models.”

 

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