Law Firms Hitch a Ride on the Blockchain Wagon

Michael Nonaka is quoted in a Washington Lawyer article regarding legal opportunities surrounding blockchain. While some lawyers might eventually become blockchain-specialty attorneys, blockchain is looking “more like a technology you have to know about if you’re in certain industries,” says Nonaka. For instance, highly regulated industries such as energy and financial services, “where there’s a tremendous exchange of assets,” will require lawyers who can understand and explain the technology. Nonaka says the key to explaining blockchain to colleagues is “you have to explain it a couple of times, and you have to explain it in different ways.” Some lawyers like to hear a concrete example of how blockchain is being used. “That internal marketing—being able to make sure colleagues understand—is as important as the external,” he says.