Lawyers looking for the next hot trend in New Jersey are opening up shop in the areas of cannabis and blockchain.
The former is a result of interest from Gov. Phil Murphy’s new administration — the state has already embraced expanded uses of medical marijuana and is working on legalization for recreational use — and the latter is a growing business trend, as more companies discover uses for a secure, online ledger to track transactions.
Dave Sorin at McCarter & English in Newark, which is just opening up its blockchain department, also has a background in technology law.
Sorin said the biggest driver of interest in blockchain is the security it provides for documents, as well as the potential it has to disrupt certain industries. Namely: banking.
One of the ways blockchain is selling itself is to remove banks, seen as third parties, from between the customer and their money.
This is also true for venture capital, Sorin said.
Click to read full article: “Law Firms Are Increasingly Moving into Two New Practice Areas: Cannabis and Blockchain”