DBC contributes to legal/blockchain publication
The increasing pace of technological advancements is affecting every industry sector today. Even in the most traditional areas of business, we are beginning to see the emergence of automation and digitalisation of processes that only a few years ago, would have been hard to imagine coming into effect.
The impact on law firms is no different. However, with an overwhelming amount of hype circulating the legal market, it has become difficult to clearly assess what will become of blockchain and smart contracts technology, how it will affect legal services and what it will mean to the practice of the law.
The debate about how technology will change law firms and law as a business and the threat it poses is ongoing. What is evident though, is that law firms and the business of law will need to adapt and change as the world changes around it. Here we aim to outline the technology and how, if it is understood, appreciated and applied correctly by lawyers, it can and will revolutionise industries and provide opportunities to those lawyers and law firms who embrace it.
In this report, the writer aims to debunk the myths of total disruption and provide an overview of what is being developed at the moment and how it could potentially be used by lawyers in the future. With so many industries having the potential to implement this technology into their operations, tha authors have listed some of the most prominent areas that are suggested to be crucial to the blockchain movement, along with example use cases.
The publication then goes on to explore its impact on the legal marketplace, gathering advice from industry experts on how law firms should expect to be advising their clients and what exactly their understanding needs to be of this technology.