Many attorneys may not be aware of a new practice area that is increasingly becoming more important, and that is the legal side of the new Bitcoin/blockchain technology space. Bitcoin, a digital currency created in 2009, and blockchain, its underlying technology protocol, is affecting the storage and transmission of data in many industries, including medical, financial, and identity. Many companies in this arena are fundraising through token sales and Initial Coin Offerings (ICOs), but regulation has not yet caught up with this technology and fundraising technique. With $1.2 billion already raised in through token sales and ICOs, this allows attorneys the ability to get in on the ground floor of a practice area that is already becoming more popular, including consulting with businesses and future lawsuits.
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