On July 25, 2019, SEC's Division of Corporate Finance issued its second ever blockchain token related no-action letter to Pocketful of Quarters, Inc. (Quarters). I spoke with Lewis Cohen, the attorney who represented Quarters in obtaining this no-action relief for the Quarters' platform which uses an ERC 20 token. We discussed the 13 year old founder's vision for this company, the process they went through to obtain the no-action letter and why he believes that this no-action relief is meaningful despite some critics' sentiment that the facts were clearly beyond the scope of SEC's jurisdiction.
With the "ICO days" of the blockchain industry more or less behind us, how has the thinking behind early stage blockchain start-up fundraising evolved? What responsible fundraising tools are available for blockchain entrepreneurs? Most VCs and entrepreneurs are familiar with the traditional convertible note. Learn how the traditional convertible note could be adapted (and automated!) for early stage blockchain start-ups.
Blockchain tech forces us to evaluate and reimagine the ways in which we trust people with whom we do business. Legal contracts, and the way legal services are delivered, are integral components of the trust paradigm. Technology is being implemented into the provision of legal services like never before. For law firms, what does it say about their current business models? For attorneys, what does it say about the relevance of their skill sets? For the legal industry as a whole, how do we create standards in which can all work together?
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