You can always bet on change! In an age when technology is constantly evolving, lawyers must keep up to stay relevant. And, while some may be hesitant to embrace new technologies, they can 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 role of a lawyer is to understand the law and to advise clients accordingly. To do that, however, you must first understand the law’s underlying technologies. 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. Understanding how it works can help you 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 law more effectively. Learning about blockchain now can help you stay ahead of the curve so that you’re better prepared for the future.
4. It can make you more marketable. As blockchain becomes increasingly popular, lawyers with knowledge of the technology will be in high demand. As a result, learning about blockchain now can make you more marketable and give you a competitive edge as the reach of technology and the size of the legal profession continues to grow.
5. It can help you better understand the law. Because blockchain is still a relatively new technology, many associated legal issues have yet to be resolved or fully understood. Having a firm grasp of blockchain’s applications and implications can provide insight into how the law may evolve in the future, preparing you to handle any legal challenges that may arise.
6. It can help you build a better future. Blockchain is still in its early stages, which means there’s a lot of growth potential. As more and more businesses begin to adopt technology, it will become increasingly important. By understanding blockchain now, you can position yourself to be a leader in the field, helping to 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. All it takes to gain a basic understanding of how the technology works is interest and some effort.
Whether you’re a lawyer who’s looking to stay ahead of the curve or you’re simply curious about this new technology, there are many reasons to learn about blockchain. The future of the legal profession is sure to be impacted by this groundbreaking technology, so there’s no better time than now to start learning.
For more information on blockchain and the legal profession, check out the “Notes to My (Legal) Self” article “Can Web 3 Save the Internet?” featuring Duane Valz.
Olga V. Mack is the CEO of Parley Pro, a next-generation contract management company that has pioneered online negotiation technology. Olga embraces legal innovation and had dedicated her career to improving and shaping the future of law. She is convinced that the legal profession will emerge even stronger, more resilient, and more inclusive than before by embracing technology. Olga is also an award-winning general counsel, operations professional, startup advisor, public speaker, adjunct professor, and entrepreneur. She founded the Women Serve on Boards movement that advocates for women to participate on corporate boards of Fortune 500 companies. She authored Get on Board: Earning Your Ticket to a Corporate Board Seat and Fundamentals of Smart Contract Security. You can follow Olga on Twitter @olgavmack.