Digital Currency and Smart-Contracts
The proliferation of digital currencies, such as Bitcoin and Ethereum, and smart-contracts is no longer an idea for the future; it is part of the present. As more Fortune 500 companies, government entities and start-ups focus on technological developments that involve digital currencies and smart-contracts using distributive ledgers such as block-chain technology, understanding, planning for and taking advantage of this growth is essential to both businesses and consumers.
With the growth of new technologies comes not only significant positive advancements, but also new opportunity for regulatory violations, system failures, and ultimately, new litigation. From theft of private keys to poor security measures, distributive ledgers and digital currencies that utilize them are susceptible to new problems that could lead to disputes over ownership rights, security breaches, and other technological failures. At Oppenheim Law, our Firm is on the cutting edge of understanding how these technological advancements can both help your business grow, and are also there when the systems don’t work the way they should to help you in any litigation that arises. With the ability to expedite transactions, minimize business interruptions and errors caused by human middlemen, and automate contract compliance between parties, smart-contracts foster an international platform for business transaction and a decentralized mechanism for enforcement. However, when problems arise, understanding your rights and remedies in this developing area of law is just as essential as using the technology to your benefit.
Our Firm can help your business prepare to accept payment via digital currencies, navigate regulatory requirements as they change and develop, and face any other hurdles that may arise. We are also available to assist individuals who own or trade in digital currencies with Estate Planning needs directed towards distribution of digital currency ownership through Estate Planning mechanisms.
In fact, because we understand the new technological developments that cryptocurrencies present, we now accept cryptocurrency, including Bitcoin, Ethereum and Litecoin, for our legal services.
If you are interested in learning more about distributive networks and digital currency and how we can help your business or personal needs, contact us today for a consultation.