Bitcoin's blockchain technology is set to usurp lawyers

Big technology companies such as Google employ relatively few people and pay little tax, in the tradition of multinational companies.
At first blush, the arrival of digital currencies like bitcoin would seem to spell more in the way of gutting existing industries, in this case payments and financial services.
IBTimes recently spoke with Coinsilium, a hybrid venture capital and business growth consultancy which nurtures a stable of early-stage blockchain innovations.
It aims to be the first publicly listed firm to offer investors exposure to a basket of start-ups using distributed ledger technology in a range of applications.
Executive chairman Cameron Parry believes there's a realm of possibilities that cannot yet be seen that will be "maybe 10 years in the future".

 "The big way to go has always been advertising – you built up subscribers and then advertising was the route to revenues. But as more people use mobile devices you can't actually fit a lot of the ads on this, so that advertising dollar is diminishing. At the moment Coinsilium has 10 investees, in which it holds ownership in the range of 5% and 20%. In terms of what's hot, Parry mentioned two areas, which are interestingly at either end of a socio-economic spectrum: monitising internet content using nanopayments and facilitating transactions for the unbanked.

"I think we're a bit far away from the example where people could just spontaneously pick up a broom and self-organise in a street-cleaning coop where residents would validate a 'proof of clean driveway' but the concept is valid.

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