It is not charming to brag about one’s ignorance of technology. I’m sure you have heard some colleagues announce dismissively: “Technology is for young people. If I’m lucky, I will be able to retire from this profession without ever learning much about it.”
With the advent of blockchain technology, that sentiment will damage your firm. Any lawyer’s refusal to understand blockchain technology today would be tantamount to a modern doctor not knowing what an antibiotic is.
I recommend you circulate this very accessible and useful article from the Artificial Lawyer – written by David Fisher, founder of the legal blockchain company Integra Ledger – to every lawyer (and paralegal?) in your firm, marking it as mandatory reading. Then convene informal study sessions where people can discuss the application of blockchain to your practice.
Fisher’s article not only explains clearly and succinctly what Blockchain is and how it works, but also describes how it directly affects not only your legal practice, but the practice of law in general – including how and why “Blockchain technology may entirely eliminate the need for some types of legal work.”
It is not necessary to become an expert in blockchain. But at the same time, before long – if not today – having no idea how it works is going to be deleterious to the survival of your law firm.
I welcome your thoughts on this or any other matter related to the law, either in the comments section below or directly via email.