"There are several necessary tasks before considering blockchain implementation in an industrial context, [including] increased legal department expertise in the area and better understanding of the uncertainty and financial risk of handling a large portfolio of suppliers, among others," said Percy Venegas, a researcher in intelligence, strategy and economics at the Costa Rica-based EconomyMonitor.com.

Venegas explained that there are only a few lawyers with practical experience in the cryptocurrency space (for instance, in niche verticals in finance), and even fewer with broader knowledge of other types of crypto assets. This is true even for large law firms which advise multinationals.

"Given that global manufacturing companies rely heavily on such advice to run their cross-border operations, acquiring blockchain literacy is a must before going into this space," Venegas said.