Many people still perspective blockchain and a distributed bill record that enabled bitcoin and other forms of digital banking as all though unfit to fully comprehend.
Still, it’s an essay of faith among believers that blockchain record will shortly change a world, and a few law firms already have dispatched lawyers to advise companies in this nascent attention on a countless challenges, that operation from either bitcoin is a skill or a currency, accounting and taxation diagnosis and several other issues.
This week, Steptoe Johnson announced it will shortly accept remuneration in bitcoin.
“We’re counseling other companies about usurpation a risks and a hurdles and opportunities of digital currency,” pronounced Steptoe’s Alan Cohn. “We should unequivocally be walking a walk.”
Cohn, an of warn during a organisation and former partner secretary in a Department of Homeland Security, and Jason Weinstein, a partner and former emissary partner profession ubiquitous launched a firm’s blockchain use organisation roughly one year ago. They also launched a blog, about a growth of blockchain technology.
Below is a brief transcipt of our conversation with Cohn. It is easily edited for clarity and concision.
Big Law Business: How many clients compensate in bitcoin?
Cohn: This is a new use that we’re providing. We expect some clients would take advantage of that.