E20: Protecting & Securing your Privacy around the Blockchain World with Laila Paszti of GTC Law Group

Laila Paszti is an attorney in GTC’s Mergers & Acquisitions, Business & Technology Transactions and Privacy groups. She focuses on mergers and acquisitions, licensing and other technology-related transactions, with an emphasis on software code audits and big data platform diligence. She also advises clients on privacy and security compliance  and cross-border transfers of data. Prior to joining GTC, Laila was a member of the IP, Technology, Food & Drug Regulatory, and Payment & Cards practice groups at Torys LLP. Before law school, she held positions as a software applications engineer at ExxonMobil and Capstone Technology where she designed and implemented machine learning (AI) software solutions to optimize industrial processes. Laila holds a B.A.Sc. in Chemical Engineering from the University of Toronto, a M.A.Sc. in Chemical Engineering from the University of Waterloo and a J.D. from the University of Toronto, where she was a law review editor. She is admitted to practice in New York and Ontario (Canada).  Laila is a Certified Information Privacy Professional (Canada) (CIPP/C).

Episode Overview:

Laila shares her expertise in helping us understand the very principles of blockchain on how it will transform our lives and how it’s going to do this. It will also change the way we interact with the database and the way we do business. It is a shared database with entries that cryptographically linked and that gives it one of its core powers that it’s immutable, it doesn’t change.

She also talks about the importance of privacy, security, and how blockchain can help with the anti-money laundering legislation. Utilizing open source software

She reminds us that blockchain is a code. Eventually, you want to either sell that code and obtain more money so you can grow your business. People are going to look at your asset and wanting to know how much it’s valued and if you have the wrong type of open source code, which requires you to maybe distribute part of your software for free, that’s not going to make your investors very happy.

What you will learn in this episode:

  • When everything becomes so complex and constantly changing, remind yourself, How do you eat an elephant? One bite at a time!
  • Planning your day the night before, so when you get up in the morning you hit the ground running!
  • Get comfortable with math because it’s the middleman in the system.
  • Look at patent strategy. patents are very neat way to secure your investment in your technology. This is my technology. You’re not allowed to use it without a license. And you know, ultimately that helps you get a better price or get better investment.
  • Internet took us parkway and I think the blockchain will take us the rest of the way.
  • Bitcoin is skyrocketing, but we need to be talking about issues like the self-sovereign identity that the 2 Billion unbanked people in the world and how we can open up new markets to include these people in the economy.
  • You have to multitask because there’s only so many hours in the day, but you have to keep up with the pace of technology.

 

Resources Mentioned:

Company Overview:  GTC was founded in 2002 on the belief that the traditional law firm model should be redefined in order to attract the most innovative legal minds and truly partner with clients. We created a distinctly different firm, organized to be as efficient and nimble as the growth enterprises we serve.

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