The FT write…..”Some of the world’s top law firms are looking to cash in on the mania for blockchain and cryptocurrencies by advising on initial coin offerings and investments in the new technology, as well as helping to deal with sceptical regulators.”
If you want to get a better idea of law firm thinking on blockchain and where they see opportunities this is one of the better pieces we’ve read in 2018. Well worth a read.
Here’s the introduction
UK, US and European firms including Clifford Chance, Allen & Overy, Latham & Watkins and Cooley are among those advising on ICOs, which involve a start-up company issuing “digital tokens” to investors in exchange for cryptocurrencies such as bitcoin. Tokens can be then used to access services produced by the issuer or can be sold on. The popularity of ICOs as an alternative tool for fundraising has rocketed in the past year, coinciding with surging cryptocurrency prices. More than 200 coins were launched in 2017, raising about $3.9bn for early stage companies globally, according to tracking website CoinSchedule. Already in 2018, more than $4.7bn has been raised from about 150 new tokens. They have also begun to creep into the mainstream, with several large companies — including messaging app Telegram and camera pioneer Eastman Kodak — announcing their own ICOs in recent months.
Read on at