Blockchain technology is an evolving technology which is generally associated and mentioned with cryptocurrencies especially Bitcoin. However, the technology itself offers a number of advantages for nearly all the sectors including logistics, pharmaceuticals, agriculture and banking, thanks to the deployment of distributed ledger and smart contracts technology and the use of artificial intelligence and data analytic algorithms.
Due to a number of ICO deals, cryptocurrency development and blockchain projects that we have assisted with our clients, we have the experience to identify the legal and operational issues which may affect the future of the project significantly. This enables us to identify the legal risks and to understand the legal boundaries of the projects accordingly, especially in terms of market-entry preparations, licensing issues, consultations with regulators, and other compliance procedures.
Also by considering the multinational user network of the blockchain technology, in most of the projects, it is not easy to recognize regulations governing new technologies or innovative business models. Current or pre-existing laws often create disproportionate and non-flexible obligations for the developers or users that may be completely irrelevant or excessive to a new innovative business model. Therefore, it is important to understand if there is law or regulation in place and, if so, how the law applies to the particular business model, what are the legal risks or if the current law favors some business models more than others.
Our services include advising our clients on: