My blog is more of a collection of favorite reads that contribute to my business model than rants and raves. But there may be a few 🙂
In general you can ignore the “Read More” link and simply click on the source link.
Is Bitcoin the currency of the future, or is it the payment system they’re developing?
Bingo! It’s the payment system. It’s the blockchain encryption.
As the Bitcoin network grows, the value of Bitcoin grows. As people move into Bitcoin for payments and receipts, they stop using US dollars, Euros, Chinese Yuan, which in the long term, devalues these currencies.
People think that Bitcoin or the blockchain is owned by someone, by a company, or by a consortium. No. This is strictly a mathematical formula that nobody owns, that we are all participating in, verifying the authenticity of the sender and receiver in a financial transaction. It is the most powerful technology that the world has seen I believe since the invention of agriculture.
Similarly, bitcoin users are a tremendously motivated community of early adopters. By creating connective tissue between these forward-thinking business models, I believe we’re molding the future for consumer-first, experience-driven commerce.
Source: Surf Air Joins the Growing List of Private Airlines Accepting Bitcoin | Bitcoin News, December 7, 2017, Jamie RedmanRead More
… when you combine the numbers for firms that have either implemented changes or that have plans in place, the numbers of firms that are addressing their challenges range from roughly half to two-thirds:
- Challenges acquiring new client business, 63%.
- Getting paid by clients, 65%.
- Demonstrating the firm’s value to potential clients, 65%.
- Keeping up with competition from other firms in your practice areas, 54%.
- Lack of internal efficiency, 55%.
- Spending too much time on administrative tasks, 47%.
- Cost control and expense growth, 54%.
- Managing staff, 68%.
- Clients demanding more for less, 42%.
- Increasing complexity of technology, 52%.
- Retaining client business, 67%.
- Increasing pace of legal and regulatory change, 46%.
Source: Solo and Small Firms Face Many Challenges, Survey Shows, But Few Have Made Changes to Address Them – Robert Ambrogi’s LawSites, November 30, 2017, Robert AmbrogiRead More
Strangely, it’s not the legal IT people in law firms who seem to have most grasped just how important AI and automation is, it’s the managing partners. This is because it’s their job to look at the bigger picture, the economic and strategic picture, not just how the machine functions day to day.
Great list of legal Artificial Intelligence providers. Looking forward to “AI and blockchain fusion initiatives.”
Source: The Legal AI ‘Barbarians’ Have Already Taken the Gates – Artificial Lawyer, December 01, 2017, Richard TromansRead More
Bloomberg Markets AM with Pimm Fox and Lisa Abramowicz.
GUEST: Brigid McDermott, VP of Blockchain at IBM, on why blockchain is here to stay, and how IBM is actively using the technology for clients in areas like food supply chain for Walmart.
Running time 08:03.
Source: IBM Utilizing Blockchain in Food Safety: McDermott | Bloomberg, November 20, 2017
Click Read More for audio.Read More
The project will take NDAs and place key identifier information onto the Integra permissioned blockchain; for example, the names of the parties, companies involved and other information that may need to be shared according to the non-disclosure document. This will provide a secure, single version of truth for the NDA. IBM Watson’s AI technology will then be applied to deliver insight into that data, covering legal and business intelligence issues.
Source: IBM + Integra Ledger Launch World NDA Project in Global First, 27th November 2017Read More
Amy ter Haar talks to Drummond Reed about self-sovereign identity, how it works, and what it could mean for the future of law.
Source: MIT Legal Forum 2017: Deconstructing Self-Sovereign Identity – Legal Talk Network, November 20, 2017Read More
For the great majority of the next generation of more complex blockchain and token based projects (BTP), a form of human-based and fiduciary consensus must be envisioned and segmented at the entity level as well, i.e., at the level of the entity that oversees the development and adoption of the technology, its ecosystem, and the interactions amongst its participants.
Source: ICO Structures: Overlooking Governance and Corporate-like Consensus Mechanisms Can have Harsh…, Fred Dionne, November 18, 2017
Thanks, Fred!Read More