by Pamela Morgan, Esq., Empowered Law published March 2014; revised June 2015; revised February 2016, revised June 2021: download a PDF version of this article with footnotes When I became aware of bitcoin as a technology, and not just a currency, I was inspired by how it might be used to replace custodial IOLTA or
This article is about using technology to modernize the way attorneys hold client funds.
Protecting Clients, Increasing Transparency, and Expediting Payments: using blockchain technology for legal fees
When I became aware of the blockchain technology, one of the first ideas that interested me was how it could be used to replace custodial IOLTA or client trust accounts. If you’ve ever paid an attorney, up-front, your money was probably deposited into an IOLTA. IOLTA stands for Interest on Lawyer Trust Account and it’s