The Monax Platform is a contract lifecycle management tool which allows consumers to easily procure lawyer-tested agreements and stay in full control of their business contracting. Harnessing a unique combination of active agreements, blockchain technology, and a business process modeling engine, the platform is designed to move business legal obligations into the networked world. Source:…

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Casey Kuhlman explained. “Almost every interaction between companies (i.e most commercial activity) is underpinned by a legal contract; yet, as commerce evolves there is a growing chasm between the traditional lawyer and the real, networked world. This chasm has come about largely because legal has lacked the technical backbone on which to build relevant digital products for these networked businesses – and that is where blockchain-based systems come into play.”

Source: Can blockchain smart contracts level the legal playing field for SMEs? |, Andrew Munro, November 9, 2018

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In the patent, IBM provides a brief description of augmented reality, stating that such a form of gaming is tied to a location that is overlaid by images of more game items such as characters, resources, or internal game locations. By applying the new blockchain patent, IBM can provide a guarantee of “trust” between real world locations and location-based AR games.

Source: IBM Patents Blockchain System to Create ‘Trust’ Between AR Game Players, Real World Locations, Helen Partz, November 4, 2018

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“While the digitization of copyrighted songs themselves is nothing new through platforms such as Grokster, Napster, and iTunes, what is new and very exciting for copyright owners is the vast potential by which blockchain technology may soon be able to create a workable digital footprint that would assist in better enforcement of unauthorized digital uses that continue to proliferate in the wild, wild west of the internet, particularly with respect to social media sites. The blockchain footprint would also be immensely helpful for other artists, filmmakers, producers, and anyone who wants to find information relevant for licensing—the name of the song, the artist who wrote the song, the year it was produced, and who currently owns the rights to the song.”

Without this new and emerging technology, it is nearly impossible for artists and/or their attorneys to easily access this information, even with today’s existing technology. By digitizing IP rights and moving them onto the Blockchain and a distributed ledger, we can effectively secure and protect creators’ rights, while making them publicly accessible, turning them into “smart IP rights”.

Source: How Can We Make Intellectual Property Rights ‘Smarter’ With The Blockchain? | Forbes, Andrew Rossow, July 24, 2018,

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The CMMP tokens are used to validate and authorize a transaction in which, at consumer vehicle request, the merchant vehicles either occupy slower lanes of traffic themselves, or allow the consumer vehicle to merge into their own lane and pass as necessary. The participating merchant vehicles gain CMMP tokens from the consumer vehicle.

Source: Ford to Use Cryptocurrency for Inter-Vehicle Communication System | Bitcoin, Samuel Haig, March 28, 2018

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The US Congress just released its massive joint report on the state of the economy, and for the first time an entire chapter is dedicated to cryptocurrency.

What’s even more extraordinary are the number of bullish sentiments on the future of the emerging technology.

Source: US Congress Releases Extraordinary Report Praising Cryptocurrency and Blockchain Technology | The Daily Hodl, Staff, March 19, 2018

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While the days of full-scale adoption may be well off, it would certainly behoove attorneys to stay abreast of developments in both blockchain and cryptocurrencies. As this technology breaks further into the mainstream, attorneys should be prepared not only to counsel clients, but to implement these new tools in a way that elevates the quality and value of our professional services.

See estate planning and land title records use cases.

Source: Bitcoin’s Blockchain Tech Could Bring Sweeping Innovation to Legal Industry | The Legal Intelligencer, Matthew Decker, January 24, 2018

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Maybe it makes sense that the old, siloed law firm models need to evolve, as well.

We are experiencing a technological tidal wave of new business models and novel legal questions, and regulators, market participants and lawyers all are trying to navigate the current.  The entire blockchain ecosystem arguably benefits when lawyers focus some of their energies outward, beyond their individual firms – advancing legal discussion and theory and grappling together to interpret and apply legal frameworks – rather than solely inward.

Source: A Legal Renaissance, Blockchain Style – CoinDesk, Joshua Ashley Klayman Kuzar, January 7, 2018

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