Cryptocurrency with Stephen Palley

Joining me to discuss this paradigm-shattering model is Anderson Kill Partner Stephen D. Palley, a seasoned trial lawyer and litigator with extensive experience in complex commercial disputes like insurance recovery, securities litigation, and corporate governance.  Stephen has significant hands-on software development and design experience. Based in the firm’s D.C. office, he is co-chair of its cross-disciplinary blockchain and virtual currency group. At several points during our conversation I referred to an article co-written by Stephen and his New York colleague Joshua Gold, titled Protecting Cryptocurrency Assets. Stephen earned his J.D. from Washington University, his M.A. from the University of Delaware, and his B.A. (cum laude) from Tufts University (Go Jumbos!).
This podcast is the audio companion to the Journal on Emerging Issues in Litigation, a collaborative project between HB Litigation Conferences and the Fastcase legal research family, which includes Full Court Press, Law Street Media, Docket Alarm and, most recently, Judicata. If you have comments or wish to participate in one our projects, or want to tell me how insightful and informative Stephen is, please drop me a note at Editor@LitigationConferences.com.
I hope you enjoy the interview, especially when Leo, my cat, knocked over my microphone and when Stephen educated me on the existence of the Weird Beard Festival and other whisker-based celebrations. –Tom Hagy

Cryptocurrency assets now exceed $1.5 trillion globally.

What a great innovation, as is the magic that makes these transactions possible. Of course, I’m talking about blockchain. The possibilities are endless on both counts. No central authority. No regulators.

But (there’s always a but), thanks to the world’s miscreants, desperados and other baddies there is escalating potential for theft of these assets whether they are held in Bitcoin or other forms of digital currency.

What should businesses consider if they plan to invest in virtual assets?

How might they mitigate risk? What security measures should they have in place?

Is the theft of digital currency covered by insurance?