I came to this subject earlier than most. The reason was that I saw that the increasing importance of data and the role of computers and digital services was going to impact hugely on the how the law, in all aspects, was going to develop. Happily, I have been proved right. Initiatives such as the blockchain and cryptocurrency have ensured that there are always new and varied challenges to be faced as we fit the old legal principles into innovative products and functions.
I am sure the next few years will see a surge in cyber related litigation. Whether that be in the field of actions taken regarding the setting up of NFT’s or cyber events leading to insolvency. The key, as always, will be to seek the best advice.
The biggest developments have undoubtedly been the wider use of cryptocurrency and the increasing adoption of the blockchain in corporate structures. These issues, in my opinion, albeit maybe in different guises, will become more pronounced as the public, and corporate and government executives appreciate the positives of these initiatives.
Regulation is inevitable. However, regulators need to understand more about this area before that happens on a large or indeed any, scale. Too much innovation suffers from over regulation and, particularly in the use of blockchain, it is a product that has so much to give, it mustn’t be strangled by regulation.
I am a career litigator, and whilst my practice being cyber based has a greater element of advisory work to it now, I still love litigation. As I say in 2 above, I suspect that I will get my wish to combine the two, sooner rather than later.
