You can always bet on change! At a time when technology is constantly evolving, lawyers need to keep up to stay relevant. And while some may be reluctant to embrace new technologies, rest assured that learning about blockchain is a worthwhile endeavor. Here’s why:
1. Understanding blockchain can help you provide better legal services. The most basic and important job of a lawyer is to understand the law and advise clients accordingly. To do this, however, you must first understand the technologies behind the law. Blockchain is one such technology.
2. It’s not just about Bitcoin. When most people think of blockchain, they immediately think of bitcoin. But blockchain is so much more than that. In fact, blockchain has the potential to revolutionize the way the world does business. Once you understand how it works, you can take advantage of its many features and benefits.
3. It can help you stay ahead of the curve. The legal profession is constantly changing, so lawyers must always look for new technologies to help them practice the law more effectively. Learning about blockchain now can help you get ahead of the curve so you’re better prepared for the future.
4. It can make you more marketable. As blockchain becomes more popular, attorneys with knowledge of the technology will be in high demand. As a result, learning about blockchain can now make you more marketable and give you a competitive edge as the reach of the technology and the size of the legal profession continue to grow.
5. It can help you understand the law better. Because blockchain is still a relatively new technology, many associated legal issues have yet to be resolved or fully understood. A solid understanding of blockchain applications and implications can provide you with insight into future legislative developments and prepare you to deal with any legal challenges that may arise.
6. It can help you build a brighter future. Blockchain is still in its infancy, which means there is a lot of room for growth. As more companies start using technology, it becomes more and more important. Understanding blockchain now can position you as a leader in the space and help shape the future of the legal profession.
7. It’s not as complicated as you think. While many people believe that blockchain is too complicated to understand, the truth is that it’s not nearly as complex as you might think. Getting a basic understanding of how the technology works just takes interest and some effort.
Whether you’re a lawyer looking to stay ahead of the curve or just curious about this new technology, there are plenty of reasons to get involved with blockchain. The future of the legal profession will surely be impacted by this disruptive technology, so there is no better time than now to start learning.
For more information on blockchain and advocacy, see the Notes to My (Legal) Self article Can Web 3 Save the Internet? with Duane Valz.
Olga V. Mack is Managing Director of Parley Pro, a next-generation contract management company that pioneered online negotiation technology. Olga embraces legal innovation and has dedicated her career to improving and shaping the future of law. She believes that through the use of technology, the legal profession will emerge even stronger, more resilient and more inclusive than before. Olga is also an award-winning General Counsel, Operations Specialist, Startup Advisor, Speaker, Associate Professor and Entrepreneur. She founded the Women serve on boards Movement promoting women’s representation on corporate boards of Fortune 500 companies. she wrote Get on board: Earn your ticket to a seat on the corporate board and Basics of Smart Contract Security. You can follow Olga on Twitter @olgavmack.