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As Chinese philosophy goes, the yin must have yang. One man's loss is another's gain.
This co-dependence is the law of nature, something that might not sit well with crypto traders. The world of new Hampshire [UNH] Law School, Jason Civalleri; especially for his ilk.
He notes that "A crypto winter for the price is a crypto summer for attorneys. As the price sinks, you have a lot of demand for legal services. "
The Law Faculty at UNH, in line with this thought, has been working on offering a new certificate program geared towards blockchain and cryptocurrency.
Highlighting the need for such a program, Tonya Evens who is a professor and program director at the University said "The student is coming out today and needs to be technologically proficient," of the technology. The program is already generating interest.
The constant exposure to cryptos has resulted in catching the attention of students. The program has already been generated at the fair rate of buzz, with over 100 students expressing interest in the program.
In light of this, the program has many people who are closely associated with the industry, as guest lecturers. The list includes the perspectives of regulators in the form of Hester Peirce, from the U.S. Securities and Exchange Commission (SEC), academics such as Ethheum Foundation researcher Vlad Zamfir and the views of the Crypto industry presented by Taylor Monahan, the CEO of MyCrypto.
As a matter of fact, this is not an isolated instance. Andrew Hinkes, an adjunct professor at the New York University School of Law has also noted that the new blockchain 80 students enrolled, with growing demand. In addition to this, the professor has seen the request for his lectures from just a few weeks.
Crypto law said that "When the value of these assets go down, there are people who have presumably lost money and therefore might want to sue."
While the regulations surrounding the industry are also in their infancy, the statute of limitations is usually given about half a decade.
With clearer laws and a better understanding of what transpired during the boom and bust cycle of 2017 and 2018, Hinkes expects the demand for legal expertise will balloon.
"That's class-action defense, class-action prosecution and all sorts of civil and criminal litigation.
More Than Just Suiting Up
Lawyers will undoubtedly need a firm grasp of how the technology actually works in order to apply their expertise on systems and cases. Thus, it is imperative that lawyers across the board are constantly in touch with the tech and their clients. This way innovation can be counterbalanced with the needs for consumer protections; thus ensuring a harmonious synergy of the law with blockchain.
While the fields of software and law seem to be vastly different, their co-dependence is hugely important. Lack of legal expertise can be irreparable damage to a tech firm and vice versa for lawyers. Thus a deep understanding of multiple fields is imperative. Something not lost on an attorney, Lisa McGunnigle.
In an attempt to incorporate her hobby of cryptos into her practice, she has signed up for the UNH course. Explaining the attractiveness of online courses, especially for those who work,
she says "Flexibility is a large factor, though overall the quality of the courses and the teachers was key."
It is not only that it offers opportunities for those practicing but also promising gateways into a world-altering technology. With such options, one only hopes that it is only a matter of time before blockchain and the digital assets sector is more entrenched in the public consciousness.
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