The firm of Greenspoon Marder has launched a new Blockchain, Digital Assets and Digital Transactions practice, but they aren't putting all of their pennies in the cryptocurrency piggy bank just yet.

Instead, the firm is casting an eye to other industries to see where blockchain might play a lucrative role in the not-too-distant future. Practice leader Katya Fisher, who recently joined Greenspoon Marder as a partner, compared blockchain technology to the prepubescent internet of the early 1990s. There is, however, one important distinction that could ultimately wind up vindicating her belief that more businesses will begin incorporating blockchain within the next few years: “All companies are tech companies in this day and age,” Fisher said.

That usually means that lawyers have to be knowledgeable of new technology too. Firms such as Goodwin, Jones Day and K&L Gates all have specialized teams working in the areas of blockchain or cryptocurrency. When it came to developing Greenspoon Marder's contribution to the genre, Fisher wanted to take a multidisciplinary approach that could touch on a variety of different verticals, whether it be opportunities in real estate, securities or even the entertainment industry.

“I'm looking at the long term. What I really want to be able to [is to say], 'OK, we are positioned to be able to help with all of these legal needs and we also understand that you can't just have a lawyer with one narrow area of expertise,'” Fisher said.

To that end, the Blockchain group includes lawyers from different practice areas across the firm. For example, a real estate attorney may be comfortable with blockchain in the context of a property acquisition, but be totally at sea in the world of entertainment, where there are a few potential applications of blockchain.

It isn't hard to imagine, for instance, the gaming industry relying on cryptocurrency transactions, or the music industry relying on it to help determine royalties and combat piracy.

“Blockchain is something that could really help the music industry tremendously in terms of tracking where the songs are played or downloaded and where the royalty payments should go,” Fisher said.

To be sure, while enterprise-related blockchain will be a focus for Greenspoon Marder, fintech and cryptocurrency will still be large blips on the firm's radar. While Fisher called the last few years in cryptocurrency regulation a “roller coaster,” that hasn't seemed to deter interest. “We're seeing institutional investors much more interested in digital assets,” she said.