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Showing posts from April, 2017

'Smart Contracts' Demand Sharper Tech Skills From Lawyers, Experts Say

In December 2016, K6 Blog published this post instructing lawyers to "start thinking like developers" to remain relevant in the age of smart contracts. The following post appeared April 18, 2017 in the New Jersey Law Journal.

By Charles Toutant, New Jersey Law Journal


Lawyers who advise clients on "smart contracts" drawing on blockchain technology say some potential adopters liken them to a "magic pill" that will provide a cure to all their contract-related headaches. But as "smart contracts" become more common in more sectors of the economy, lawyers will need to increase their technical know-how and renew their focus on counseling clients instead of ministerial work, according to specialists in this fast-evolving field. While expectations should be tempered, experts said adoption of the new technology will bring changes to the practice of law. Some boosters of the technology have expressed unbridled enthusiasm for blockchain technology's pot…