Several years ago, the partners at Berns Weiss recognized that virtual currency (also referred to as digital currency or cryptocurrency) and blockchain distributed ledger technology have the potential to revolutionize how individuals, businesses, and the government interact with one another. The technology that underlies cryptocurrencies like Bitcoin and Ethereum not only allows for the transfer of value and payments, but it also provides an open, verifiable system free from intermediaries that permits the transfer of information and property rights between participants. As is often the case with new technologies, individuals and companies that use virtual currencies and are working on applications that run on the blockchain are currently confronted with a legal system that has developed in response to old technology.
Berns Weiss is ideally positioned to protect the rights of the individuals who participate in the developing virtual currency/blockchain eco-system. Its partners have decades of experience protecting the rights of consumers through litigation in federal and state court. Further, our Virtual Currency and Blockchain technology practice group is staffed by attorneys that have developed the necessary experience and expertise to guide individuals and businesses working on virtual currency and blockchain applications through the existing legal labyrinth. Our firm currently provides legal services to software developers and outside general counsel services to start-ups in this field. Additionally, the group’s attorneys serve on a Federal Reserve committee concerning payment technology , have participated in numerous virtual currency and blockchain conferences and events, have co-authored a virtual currency guide, and are frequent contributors to a news site devoted to Ethereum and blockchain news. Berns Weiss also maintains a Virtual Currency and Blockchain blog, where emerging ideas and multifaceted problems from the virtual currency and blockchain world are explored and dissected through a discerning legal lens.
Our firm is unique in that we are able to supplement our attorneys’ substantial experience and expertise with technical capabilities that are derived from direct access to coders and back-end software developers working at a blockchain-based software design studio founded by our managing partner. This enables us to develop a more thorough understanding of blockchain software applications. Berns Weiss is well-equipped to assist companies and developers in analyzing the potential legal consequences that accompany the rapid growth of this burgeoning technology and to investigate a myriad of relevant regulatory compliance issues. As the blockchain community continues to grow, and as regulators and legislators push to pass new laws to address this technology, Berns Weiss should be your first choice as a partner in developing real world solutions to address this virtual frontier.