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A new legal structure that bestows and monitors trust must be employed. Is decentralization of traditional, gigantic central bank repositories of data the answer? Is blockchain technology the new path that the legal industry should take to sustain in the digital age? Let us consider the most significant implications of decentralized technologies to the legal industry.
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<b><i>Part Two of a Two-Part Article</b></i><p>The proliferation of cryptocurrency and blockchain is being driven by the efficiencies and protections afforded to early adopters. The operational efficiencies and resulting cost savings are readily apparent in the financial services industry and are equally coveted by the entities trying to implement them and by the customers who will benefit from the implementation. However, neither party can fully enjoy these benefits without first understanding and overcoming the various regulatory hurdles.
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Cybersecurity is a hydra of complexity. Keeping a grasp on it requires constant re-education. What no one tells you: managing your company's cyber vulnerability demands a willingness for personal vulnerability. Being honest about our cyber risks is painful. And scary.
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<b><i>Panelists at ALM Cybersecure 2017 Delved Into the Year's Biggest Legal Technology Buzzwords and the Hype Fueling Their Popularity</i></b><p>Legal technology has no shortage of buzzwords. The latest slew to take the industry by storm were the topic conversation in a Dec. 5 panel at ALM's CyberSecure event in New York.
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The growing acceptance of biometric data as a form of identification for employees means that many employers will likely have to face issues covered in state legislation in the immediate future.
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At law firms and legal departments, preparing for the new year should mean looking back at the last year and prioritizing revenue-driving activities, identifying strategies to grow your firm or company while mitigating risk and budgeting for new projects to meet client demands.
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In the event that your company is the victim of a ransomware attack, this article provides steps to be taken as part of its response to such an incident. It is meant to be a helpful guide, but the best response generally will depend on different factors, including the scope and severity of the attack, availability of remediation measures, and business sensitivities.
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Some key takeaways and hot topics that should be on the radar of lawyers from the Legal Marketing Association's Legal Marketing Technology Conference in Chicago.
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<b><i>In the First Enforcement Action Initiated By Its New “Cyber Unit,” the SEC Announced It Has Secured a Court Order to Freeze the Assets of Individuals Behind a “Scam” Initial Coin Offering</b></i><p>In the first enforcement action initiated by its new “Cyber Unit,” the Securities and Exchange Commission (SEC) recently announced it has secured a court order to freeze the assets of individuals behind a “scam” initial coin offering, or ICO.
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Although the current news cycle is a barrage of negative situations, the silver lining is that they offer law firms a wealth of teachable moments about the importance of preparing for and responding to a crisis situation.