1/JUST FINISHED the first of my series of speeches this month to mainstream audiences about #bitcoin/#crypto--this one was to @actl, annual meeting of American College of Trial Lawyers. Multiple Supreme Court justices usually in audience. Two key themes: 
2/ First, I recommended swift clarification of legal status of #digitalassets so US courts aren't clogged w/ disputes in this $2trn industry due to murky laws (incl swift passage of draft UCC Article 12, or even early adopting it). It's on agenda for @uniformlaws mtg on Nov5-6.
3/ #Wyoming led charge to make #blockchain tech "backwards compatible w/ US legal system"--draft UCC Art. 12 (similar to WY law) was already early-adopted by AR, NE & TX. We're seeing increasing litigation due to murky laws--not only clogs courts but consumer fairness issues too.
4/ If you're curious about draft UCC Art 12, info is avail here. Again, shout-outs to @Andrea_Tosato, @Prof_CarlaReyes, @propelforward & many other lawyers who understand #crypto & helped bring the UCC & Emerging Tech Committee along. I've helped too.🤠 uniformlaws.org/committees/com…
5/ Second, I recommended that the trial lawyers help focus the law schools & law firms with which they work on the importance of teaching law students to read code. Law & code will increasingly merge--they're each just code written in different languages w/ diff operating systems
6/ But they're not compatible. An example of how they're merging is #Wyoming's #DAO LLC law, which allows LLC operating agreements to be natively in code instead of natively in words on paper. Judges will need ways to read that code in litigation.
7/ #Crypto is calling into question the organizational forms of the Industrial Age, incl the corporation. #Wyoming is yet again the 1st state in US to push fwd w/ legal innovations. WY was the first US state to grant women right to vote in 1869 & rest of US followed 50 yrs later.
8/ #Wyoming was also the first state to create the LLC legal entity form in 1977 & rest of US followed about a decade later. Spot the pattern--WY has pushed ahead yet again, this time w/ #blockchain-enabling laws, & it won't take the rest of US a decade to follow WY this time.🤠
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