EY Outlines Blockchain Technologies 'Legal Impacts'
EY, one of the 'Big Four' professional firms, recently released an EY Law article outlining the merits of blockchain technology and the five areas of the legal industry that would be most impacted by this new technology. One of these areas is smart contracts, contracts drafted in software programming languages, raising the question: should law firms begin recruiting lawyers who can code?
The article notes that in a previous speaking engagement, Attorney Joe Dewey answers that question: it's impractical for all lawyers to learn how to code. Rather, smart contracts will likely be created through user-friendly interfaces built for non-coders.