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Commentary: Four Takeaways From the ABA Institute’s Blockchain Conference

Jonathan Hugg writes for the Legal Intelligencer, “I recently attended the American Bar Association’s annual institute on blockchain technology, digital currency, and ICOs (initial coin offerings). Some might view these new technologies as libertarian, even revolutionary. Others might call it anarchy with hype reminiscent of the dot-com bubble. For attorneys, it is crucial to understand the commercial potential of these new tools if we are to properly advise clients about safely conducting business and limiting liability and risk. We may also face possible ethical responsibilities, as the chairman of the Securities and Exchange Commission (SE”) has called on attorneys to act as gatekeepers to maintain “high professional standards” in this developing field.”

He identifies 4 takeaways from the conference

Hope of profit and fear of fraud are endemic.

There is basically no law except for contracts between participants.

More regulation is inevitable

More regulation is preferable.

Get more detail on the takeaways and his conclusions at

https://www.law.com/thelegalintelligencer/2018/05/30/four-takeaways-from-the-aba-institutes-blockchain-conference/

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