'Smart Contracts' Demand Sharper Tech Skills From Lawyers, Experts Say
While expectations should be tempered, experts said blockchain adoption will bring changes to the practice of law.
April 19, 2017 at 02:35 PM
5 minute read
Lawyers who advise clients on “smart contracts” drawing on blockchain technology say some potential adopters liken them to a “magic pill” that will provide a cure to all their contract-related headaches.
But as “smart contracts” become more common in more sectors of the economy, lawyers will need to increase their technical know-how and renew their focus on counseling clients instead of ministerial work, according to specialists in this fast-evolving field.
While expectations should be tempered, experts said adoption of the new technology will bring changes to the practice of law.
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