Industry Group Dedicated to Driving Awareness and Solutions

NEW YORK, April 28, 2022 (GLOBE NEWSWIRE) — The lately shaped Blockchain + Authorized Business Group introduced right this moment that its collaborative working teams have created the primary of a number of new white papers for normal counsels in regards to the interrelationship between blockchain and the legislation. This represents the start of an essential effort to coach the authorized neighborhood concerning the authorized and regulatory points surrounding blockchain and cryptocurrencies, and the way blockchain know-how can profit the way in which company authorized departments and legislation corporations do enterprise. The group’s first white paper, Blockchain and Mitigating Company Threat, represents the primary in a sequence designed to share that understanding with the broader authorized neighborhood.

Founding members of the Blockchain + Authorized Business Group embody representatives from:

Ava Labs
Coinbase
Cornell Regulation Faculty
Cravath Swaine & Moore LLP
Epiq
Grant Thornton LLP
IBM
Icertis
Norton Rose Fulbright
Pitney Bowes

“Having labored with quite a few purchasers on blockchain implementations, I’ve seen an incredible must advance the trade’s information and finest practices in understanding and managing the authorized and compliance implications and alternatives of blockchain,” stated founding member Mark Treshock, world blockchain options chief for healthcare and life sciences at IBM.

The group has rapidly grown to incorporate lecturers, technologists, enterprise executives, and attorneys from greater than 25 organizations. The number of members is a major power as members convey experience as authorized, enterprise, and monetary company advisors, blockchain operators and founders, lecturers, technologists, and current and potential company blockchain adopters. Every participant brings a novel perspective, offering the group with a 360-degree view of the rising area.

“Multi-disciplinary trade collaborations like this are essential to advancing the accountable adoption of blockchain know-how,” stated founding member Johnny Lee, principal & nationwide observe chief, forensic know-how at Grant Thornton LLP. “Solely engagement by considerate insiders can refute the concern, uncertainty, and doubt that permeates a lot of the media protection and public commentary on this area. I’ve discovered the extent of candor and dialog inside this group to be remarkably productive towards these ends, and I’m pleased to be part of this effort.”

The group’s broad vantage level allows members to speed up their understanding of blockchain and its authorized and regulatory points, higher positioning their firms for the longer term. The brand new white paper, Blockchain and Mitigating Company Threat, represents the primary in a sequence designed to share that understanding with the broader authorized neighborhood.

“Being part of this group has broadened my understanding of what blockchain means to my very own group and to the authorized trade basically,” stated founding member Dan Goldstein, government vp and chief authorized officer at Pitney Bowes. “For a lot of in authorized there’s a lack of true understanding about blockchain’s authorized, regulatory and compliance implications, what the dangers and alternatives are, and easy methods to handle them. Our group is working to vary that.”

With extra use instances always rising, blockchain and cryptocurrency are clearly changing into extra pervasive of their adoption. Many firms are conscious of the know-how however don’t but perceive the way it will impression their authorized division and obligations, regulatory compliance, enterprise, and operations.

“As a lawyer and legislation professor actively engaged in fintech, it’s clear that blockchain has and can proceed to be transformational,” stated founding member Charles Whitehead, Cornell Myron C. Taylor Alumni Professor of Enterprise Regulation and Founding Director of the Cornell Tech Regulation, Expertise and Entrepreneurship Program. “This group has been instrumental in figuring out the authorized challenges introduced by the know-how.”

The group seeks to research and determine options and finest practices for the various authorized, regulatory and compliance points that firms and different organizations face once they resolve to undertake blockchain and cryptocurrencies. Assessing these points additionally permits for a broader understanding of the worth proposition of blockchain, and the way its adoption can impression authorized and compliance operations.

“With the adoption of blockchain and cryptocurrencies rising, authorized departments might want to totally perceive implications for forensics, data governance, investigations, eDiscovery, privateness and compliance, and ensuing desired approaches for implementation, together with what forms of information that ought to or shouldn’t be included on the blockchain,” stated founding member Alison Wisniewski, chief authorized officer at Epiq and the primary white paper’s main writer. “Epiq has an extended historical past of working with company authorized departments and legislation corporations to grasp and optimize the implementation of latest applied sciences from a authorized and compliance perspective, and our participation on this group will assist us higher serve our purchasers on this transformational space.”

Different group members are additionally working to leverage improved blockchain information on behalf of their purchasers, together with legislation corporations and know-how suppliers. “As a worldwide legislation agency with a big fintech shopper base, we advise many purchasers on the alternatives and authorized concerns for adopting blockchain know-how to develop all kinds of digital belongings and options,” stated Stephen Aschettino, US head of fintech for the worldwide legislation agency Norton Rose Fulbright. “We’re excited to have interaction with the Blockchain + Authorized Business Group members to convey additional innovation to our purchasers.”

“The blockchain is altering how data administration and authorized operations will evolve. As a contract intelligence firm offering sensible contract options all over the world, our involvement within the Blockchain + Authorized Business Group has not solely helped us to higher perceive the wants of company authorized operations however has additionally contributed to how we proceed to optimize our Icertis Blockchain and Good Contracts Framework,” stated Dr. Sunu Engineer, principal architect and technical evangelist, R&D, Icertis. “We’re enabling firms to seamlessly leverage revolutionary contract administration options primarily based on sustainable, permissioned, standards-based blockchains and associated applied sciences to handle real-world enterprise challenges.”

The Blockchain + Authorized Business Group conducts analysis, defines and shares finest practices and hosts roundtable discussions on key subjects. events are invited to take part.

“Recognizing the transformation occurring in a number of industries as a result of blockchain and cryptocurrencies, we’re enthusiastic about what we’ve already achieved with this group, and we stay up for welcoming extra members,” stated founding member George Bickerstaff, government board member in prescribed drugs and former Novartis CFO.

In case you are all for studying the white paper, receiving future communications from the group, or collaborating as a member of the group, please go to https://www.blockchainpluslegal.org.

About The Blockchain + Authorized Business Group The Blockchain + Authorized Business Group seeks to research and discover options for authorized/compliance/privateness/safety and regulatory points firms and different organizations face in using blockchain and cryptocurrencies, with the assumption that addressing such points will enable for broader blockchain/cryptocurrency adoption. The group additionally seeks to determine and assist the adoption of blockchain for the digital transformation of sure authorized capabilities/operations. The group brings collectively lecturers, technologists, enterprise executives, and attorneys. Study extra at https://www.blockchainpluslegal.org.