Blockchain is one of the most disruptive technologies to emerge in recent times. It underpins the multi-billion dollar cryptocurrency sector and powers many emerging financial services businesses, but it’s also set to disrupt other sectors in novel ways.
Blockchain technologies are still in their infancy and industry and innovators continue to explore the cutting-edge ways they can be used. We love working with our clients to understand, embrace and exploit new technologies like blockchain across the sectors we work in, including media and entertainment, electronic commerce, financial services and fintech, computer games, online betting and gaming, IoT and smart infrastructure. Our experience means we don’t just consider the specific question we may have been asked, but also the broader strategic, commercial and practical issues arising from using blockchain technologies.
It can be easy to think that blockchain is only currently widely used in financial services and cryptocurrencies – and much of our work has been in this area. We’ve advised on the international establishment of cryptocurrency exchanges, the development and delivery of the infrastructure for the launch of new cryptocurrencies, and on initial coin offerings. But we’ve also been delighted to advise on new and novel applications of blockchain technologies outside of the financial sectors, including on the development and launch of a blockchain-based asset tracking service for use in critical national infrastructure facilities, the legal and regulatory complexities involved in the operation of blockchain-based gambling services, and on the processing of personal data via smart contracts.
We’re also there to help if things go wrong – we’ve acted on high value cryptocurrency thefts and hacks.
As the use of blockchain grows, so have issues around data protection and privacy, gambling regulation, consumer protection and financial services. Questions also remain about the legal status of crypto assets. We have specialists in all these areas along with an office in Brussels closely connected with European legal, judicial and policy developments affecting the blockchain industry.
No matter whether you’re a start-up or a global company, we’d be delighted to utilise our experience to help you maximise the opportunities for your business.