Daniel Payne: Financial services industry, like every other industry in the world, has been greatly impacted by technology, and the way financial services companies service their customers has changed remarkably. We created the innovation lab because Murphy & McGonigle has been a forward thinking, innovative law firm since the day we opened our doors. What makes the Innovation lab so unique is that we've partnered our attorneys and their expertise in the legal field with an IT department that can deliver on the ideas that our attorneys have. The software engineers and IT resources that are in the Innovation Lab, provide feedback to the attorneys for what is technically feasible and what is the most cost efficient way to create these new solutions. The Murphy & McGonigle Defend app is a smartphone application that allows clients to have real time feedback on what they should do in the event that law enforcement shows up with a subpoena or with an interview request. And the Defend app is the first line of guidance that these clients can reference. It's right there on their smartphone. Nowadays, one anecdotal case is not sufficient support before advising the client. Clients want big data support. And so they don't want to know what happened in the one case you had. They want to know what's happened in the 3000 cases that were filed in the last five years. So, part of what the Innovation Lab is doing is undertaking an effort to find technological solutions to deliver analysis that's based on big data. Contracts that were signed on paper are now electronically verified, and Blockchain technology is now replacing old contracts with new distributed ledger contracts. We're going to continue coming up with innovative solutions for our clients. We're going to continue to impress them with the things we're able to do. We're going to do things that other law firms don't do. We're gonna do things that law firms didn't think they could do. And our clients expect the law firms that they hire are going to be thinking this way.
Murphy & McGonigle Innovation Lab
The Murphy & McGonigle Innovation Lab allows Murphy & McGonigle Consulting to serve our clients as technology fundamentally transforms the way they do business. We are exploring new ways to deliver services, from proprietary databases to smartphone apps. We will seek to support our advice with more than anecdotal experience as we leverage big data analytics. And we are developing institutional knowledge of the legal technology marketplace.
In an example of the “Wild West” cryptocurrency industry continuing to be tamed, a law firm out of Virginia has created the first database of judicial cases in order to help the legal community gather resources in an effort to prosecute crypto-centered criminals and further clean up the Bitcoin ecosystem. The Blockchain Litigation Database (BLD) brings together into one central repository all crypto cases from across different jurisdictions in order to allow an easy search of data in building court cases.
Noting that “law firms are increasingly becoming involved in the development of technology,” resulting in “a new kind of law firm that looks as much like a fintech startup as a legal outlet,” Forbes covers Murphy & McGonigle’s innovative Blockchain Litigation Database.
Blockchain technology has tremendous potential. Amidst a dramatically evolving and escalating landscape for blockchain companies, crypto assets and business potential, many of the legal parameters and regulatory guidelines impacting this growing market sector remain undefined, vague and/or in the throes of a turf battle by government regulatory bodies.
Murphy & McGonigle, a leading financial services and regulatory law firm, today announced that it has launched a website dedicated exclusively to the legal and regulatory developments in the application of blockchain technology. The comprehensive new site, Blockchain Law Center, is located at www.Blockchainlawcenter.com.
White collar defense attorneys are regularly confronted by new clients who seek representation where the client has told some version of his or her story to law enforcement agents before ever meeting with counsel. While Miranda warnings, aimed at providing prophylactic cautions to individuals, are ubiquitously disseminated throughout our society, in practice people generally relay an entire story to law enforcement officials without preparation, without prior consultation with counsel, and without being accompanied by a lawyer to protect their interests. Of course, where an individual is not subject to custodial interrogation, there is no obligation for law enforcement agents even to provide Miranda warnings.
M&M Defend app to help executives and companies respond to Surprise Law Enforcement Actions is now available on Google Play.
Murphy & McGonigle is pleased to announce it has joined the Hyperledger Project. The Hyperledger Project is a collaborative, cross-industry effort working to enable organizations to build and run robust, industry-specific applications, platforms and hardware systems to support their individual business transactions by creating an enterprise grade, open source distributed ledger framework and code base. Hyperledger now has 95 members, making it the fastest growing collaborative project ever hosted by the Linux Foundation.
An agent from the Federal Bureau of Investigation approaches a hedge fund trader as he leaves the office, wanting to ask a few questions. Nervous about saying no to an official, the trader dishes, and information he provides is later used against him.
Steven Feldman, a white collar attorney in New York, has seen too many clients caught off-guard in such situations. His solution? The Murphy & McGonigle Surprise Law Enforcement Response App.
Firm releases M&M Defend app to help executives and companies respond to Surprise Law Enforcement Actions.
Although the legal industry resisted longer than most other industries, there is no doubt that legal services are now being disrupted by technology. The Innovation Lab provides an infrastructure to combine our legal expertise with cutting edge technological solutions.
Blockchain Litigation Database - brings together into one central repository all crypto cases from across different jurisdictions in order to allow an easy search of data in building court cases. Blockchain Litigation Database
Blockchain Law Center - a resource for those interested in legal and regulatory developments in the application of blockchain technology. BlockchainLawCenter.com
M&M Defend App – provides guidance to deal with critical encounters with law enforcement, including the execution of search warrants and interviews.
Database Solutions Offerings – creating multidimensional, data-driven solutions with custom-built databases, including, for example, comprehensive analysis of the exposure to wide-ranging RMBS litigation.
Joined several clients in the Hyperledger Project, an international open source collaborative effort created to advance cross-industry blockchain technologies. Murphy & McGonigle is the first law firm to become a member of the Hyperledger Project.