In Industry First, Holland & Knight Serves Defendant via Token
Technology and innovation attorneys Andrew Balthazor and Joe Dewey were featured in a Law360 article about using a digital token to verify that claimants were the owners of blockchain addresses in legal actions brought by the U.S. Securities and Exchange Commission (SEC) against individuals and companies over securities fraud. Mr. Balthazor suggested notifying the defendant by embedding a hyperlink to the notice that would be sent to the defendant's blockchain address. The request was approved by Justice Andrea Masley, leading Holland & Knight to an industry first of a defendant being served via digital token. Mr. Balthazor added that both he and Mr. Dewey will continue to work to improve the use of digital tokens in legal services, including determining a way to verify that the intended recipient of an embedded notice actually saw it.
"[Having] a judge in this case recognize that a fair method of delivering information to a defendant is through a blockchain address when that's the only trace they've left is just a leap forward, really, in allowing us to bring an appropriate remedy in the right cases for the right clients," Mr. Balthazor said.
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