It’s no secret that blockchain and cryptocurrency are fast-growing specializations within the financial industry—JPMorgan Chase & Co. just tested its own digital currency—and law firms are busily snatching up lawyers with expertise in the emerging fields.
Major, Lindsey & Africa managing director Brian Burlant, who recruits for law firms and in-house legal departments, said it’s been hard to keep up with demand for attorneys who understand the promise and risks associated with the technologies, as well as those with expertise in digital privacy.
Blockchain’s applications extend far beyond heavily publicized cryptocurrencies such as Bitcoin and Ethereum, and include accounting, supply chain logistics, health care and advertising.
“What I am seeing in blockchain and in crypto is that firms are cautiously making forays into this space—feeling out for talent, trying to assess where are the trends from their clients coming; so it is very much a work in progress and everyone expects the weight of business to increase,” Burlant said. “We have also seen lawyers entering this space from regulatory practices or government, specifically securities regulation and white-collar/investigations practices, as regards to cryptocurrencies in particular,” he added.