Blockchain for Legal

Often referred to as “disruptive technology,” blockchain has emerged from relative obscurity to become one of the most popular conversation topics in varied industry circles. It can be thought of as a way to trade goods or services without the need for a middleman, therefore reducing the number of steps in any given transaction, in real time. And because blockchains are decentralized, not stored in any single location, the data becomes virtually impossible to corrupt.

Given the ability to introduce unquestionable efficiencies in industries that have historically relied on third-party-mediated systems to undertake complex transactions, what does this mean for the legal industry, which itself acts as the most trusted intermediary there is, and has traditionally been known as a late adopter of new technology?

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