“Lawyers aren’t going away. But the way we work is changing.”
Today’s client and, more importantly tomorrow’s client, demands that lawyers keep pace with the #futureofwork in the #neweconomy. Here’s where I think we are and where we HAVE to go.
How do you foresee this directly impacting the legal industry?
Asked by interviewer Adam Keirstead
Well, there’s a really interesting move in the legal industry to prepare lawyers to have conversations with technologists in the IT department and those who are coding to leverage the existing master contracts that we have in order to figure out ways that we can automate certain functions.
Essentially, there are master agreements underneath that lawyers do, and there’s coding the coders and IT specialists do. They need to be able to talk to each other. This is an area that’s ripe for innovation on the law side.
Lawyers won’t go away, but the way that lawyers are interacting with business people, and in terms of our advice and how we work with them is going to certainly change!
In this episode, MakerDAO general counsel Brian Avello and I explore the secrets to success for future lawyers and current lawyers interested in pivoting to represent clients involved in blockchain, cryptocurrencies and decentralized finance (or “defi”). This is also an important episode for anyone who wants to better understand the legal landscape in the crypto space. Brian explains what decentralized autonomous organizations (DAOs) and smart contracts are and addresses the cefi vs. defi distinction. And he also shares his take on some of the most pressing legal issues in defi and crypto today and in the future, including regulation by a number of regulatory bodies like the Securities and Exchange Commission (SEC), the Commodity Futures Trade Commission (CFTC), Financial Crimes Enforcement Network (FinCEN) and the Treasury Department, the Internal Revenue Service (IRS), and the Financial Action Task Force (FATF). SPONSORED BY ADVANTAGE EVANS™ ACADEMY There’s a more cost effective and time-efficient way to reach your leading-edge learning and earning goals, to put you ahead of the stiff competition to create opportunity and generational wealth in this fast-paced, tech-driven economy. You need skills. Credentials. An advantage. And I can help! I empower underestimated life-long learners traditionally locked out of tech and finance to take control of their financial futures and participate in the new digital cash economy safely, legally and confidently in a welcoming space so they can stay ahead of the curve and create autonomy, opportunity and generational wealth in the fast-paced, tech-driven world. Ready for your advantage? Learn more about From Cash to Crypto™ at AdvantageEvans.com. Links: The SEC’s DAO Report: https://www.sec.gov/news/press-release/2017-131 (link press release)Commodity Futures Trading Commission: https://www.cftc.gov/ Office of Comptroller of Currency (Treasury): https://www.occ.treas.gov/ FATF: https://www.fatf-gafi.org/about/ Yearn.Finance Contact:Questions and requests: email@example.com Follow: Twitter @AtTechIntersect Instagram @TechIntersect Web: http://www.TechIntersectPodcast.com Mailing List: http://eepurl.com/gKqDyP Rapternal Music (Regulate and The Rabbit Hole) by Notty Productions is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License. Produced by Tonya M. Evans for FYOS Entertainment, LLC, and Stephanie Renee for Soul Sanctuary, Inc.Support the show (https://techintersectpodcast.com/join/)
Of course, we cannot help but discuss whether the Libra hearings had a positive or negative effect on the crypto ecosystem and some hurdles to mainstream adoption and proliferation of stablecoins.
The Future of Innovation
In my second panel, Preparing for the Next Wave of Innovation we will discuss whether the future of blockchain is the future of all technology. This discussion will examine the changes in funding structures, innovation, and the evolution of how society organizes itself. From enterprise to decentralized ecosystems, we will discuss how blockchain is likely to evolve to become a part our everyday life and what is needed to get there. I will focus on the impact of blockchain and crypto on education, especially higher ed, and the impact of education on blockchain and crypto.
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