In September, the Law Society produced a report with the Tech London Advocates’ Blockchain Legal and Regulatory Group, setting out key issues for legal practitioners to be aware of when advising on distributed ledger technologies (DLT).
It’s clear that lawyers are starting to become familiar with DLT and other emerging technologies like smart legal contracts and cryptoassets.
The report will provide a clear framework and much-needed guidance on the use of blockchain in the legal services sector. It includes a list of key recommendations on the many aspects relating to DLT, including:
- commercial application
- data governance
- intellectual property
- data protection measures
- dispute resolution.