Take these Gents in the picture below. They are building #DeFi platforms which are systems and products that emulate existing centralized financial products and systems, but in a “decentralized” way. What kind of lawyer will they need in the future?
No one knows for sure, but they may need Transactional lawyers to receive investment, to buy other platforms, to license their products and services, to potentially register as companies, where to wind down. Even if they don’t incorporate, they still need help with governance.
Maybe what they’re doing is regulated & they choose to ignore it because #Decentralized. Then they might need criminal defense lawyers to respond to investigative subpoenas from regulators& law-enforcement and to defend against indictments.
Maybe they skate by without registering or complying and somehow avoid the long arm of the law. Their investors and users still might sue them and in that case they’ll need commercial litigators and class-action defense counsel to help them.
Let’s say they’re super successful and some of the principals creating these new systems become very wealthy. They will need tax and estate planning lawyers, especially those who understand how to plan around digital assets.
Imagine they become incredibly successful. They may want laws providing incentives for people to use their system. they will hire lawyers and lobbyists in order to advance legislation making what they’re doing easier or more acceptable in a given jurisdiction.
#Decentralized entities. They are playing with fire, (& some will be burned), but they fire will be used to forge new tools & carve new paths that are destined to be heavily trafficked. Do the weird stuff, lawyer friends. It may not be lucrative now, but it's the near future.
to close this unintended #thread, if you're a #lawyer who's even remotely curious about #crypto, I encourage you to learn. Start reading (bitcoin.org/bitcoin.pdf). Watch a video (). Got questions? Wanna talk about how? DM's are open- hit me up !
and I forgot IP protection, patents, trademarks...
