PTW3 042: Future of Legal Tech: Smart Contracts, NFTs, Crypto and AI with Matthew Fornaro and Donna Mitchell

Pivoting to WEB3

Our guest, Matthew Fornaro—a seasoned attorney specializing in civil and complex commercial litigation—shares his expert insights on how smart contracts can dramatically reduce administrative costs, enhance trust, and eliminate fraud in digital transactions.
In this episode, we'll explore how NFTs are poised to extend beyond digital collectibles into loyalty programs and other areas and why small to medium-sized businesses must strategically plan their transition to Web3. We’ll also delve into Matthew’s extensive use of AI in legal practice, its benefits, and the crucial aspect of maintaining human oversight. Plus, we’ll touch on the evolving regulatory landscape and future trends like decentralized autonomous organizations and Web3-based marketing.
Takeaways:

• Web3 is a growing trend that businesses need to be prepared for, as it will impact various aspects of their operations.
• Key trends in Web3 include decentralization, smart contracts, and the use of cryptocurrencies and NFTs.
• Businesses should integrate Web3 technologies gradually and stay informed about regulations as they evolve.
• The use of AI in legal practice can enhance productivity but should be managed and monitored to ensure quality control.
• Education and training are crucial for businesses entering the Web3 space, and a gradual transition is recommended.

About Matthew Fornaro:
Matthew Fornaro has been a business law attorney serving South Florida, including Coral Springs and Parkland, since 2003. Before starting his law firm, he was an attorney at two prestigious AmLaw 200 law firms focusing on civil litigation. Matthew practices complex commercial litigation, including contract disputes.
Matthew, a member of the Florida Bar and District of Columbia Bar, also practices construction law, intellectual property law, homeowner and condominium association representation, and drafts and revises of business documents, including the formation of business organizations. Matthew assists new business owners in choosing and drafting all legally required documents.
Matthew is involved in mentoring new attorneys, as both a graduate and instructor of the Kaufman Foundation’s FastTrac NewVenture Program, presented by the Broward County Office of Economic and Small Business Development and the City of Hollywood, as well as a graduate and instructor for the Florida State University College of Business Jim Moran Institute for Global Entrepreneurship Small Business Executive Program.
Connect with Matthew Fornaro:
Twitter: https://www.twitter.com/FornaroLegal/
Facebook: https://www.facebook.com/fornarolegal/
YouTube: https://www.youtube.com/channel/UCZn4sEROz6hErV5Fb5vvOtQ
LinkedIn: https://www.linkedin.com/company/matthew-fornaro-p.a./

Connect with Donna Mitchell:
Podcast - https://www.PivotingToWeb3Podcast.com
Book an Event - https://www.DonnaPMitchell.com
Company - https://www.MitchellUniversalNetwork.com
LinkedIn: https://www.linkedin.com/in/donna-mitchell-a1700619
Instagram Professional: https://www.instagram.com/dpmitch11
Twitter/ X: https://www.twitter.com/dpmitch11
YouTube Channel - http://Web3GamePlan.com

What to learn more: Pivoting To Web3 | Top 100 Jargon Terms

Kapitel

1. Matthew is an experienced attorney with diverse expertise. (00:00:00)

2. Integrating technology and contracts; traditional contracts outdated. (00:06:08)

3. Smart contracts reduce administrative overhead and enhance trust. Upcoming uses include invoicing, payroll, and escrow. (00:09:21)

4. Attorneys discuss fraud risk in real estate. (00:12:42)

5. Small businesses must embrace Web three technology. (00:16:38)

6. Educate, integrate web three for business success. (00:17:31)

7. Businesses must prepare for web three. (00:23:31)

8. Attorneys need to understand and address web three issues. (00:25:54)

9. AI is revolutionary but requires supervision. (00:28:28)