From Currency To Law, There Is No Limit To Blockchain Technology

Nobody can dispute the power of artificial intelligence when the topic of the latest technology on data comes up. In the blockchain arena, one of the biggest blockchain breakthroughs comes from integration of artificial intelligence, in the Fintech industry when it comes to lending money.

From the look of things, there is no limit to blockchain breakthroughs. Apart from the impact it has in the currency domain, blockchain application has a place in the law arena as well. Lawyers are now using blockchain applications to ensure security and transparency in legal transactions.

From property records to legal contracts   

Blockchain application that deals with smart contracts remains part of the assets that every industry values for some time now. However, legal firms are taking up the practice of smart contracts in their activities to authenticate contracts and allow transfer of funds without the worry of an intermediary or hacking concerns.

Streamlined ledgers   

Just like any other business, even lawyers use books in their activities. With blockchain applications, agents can organize their data better and streamline their distributed books and in the process, that promotes overall streamlining of the law firms in future.

What do lawyers think?   

According to details from a few lawyers who use the application, the technology is changing the way they do things. Lawyers can now exchange information or transfer funds without the worry of being hacked, since their data is under protection at all times.

Blockchain’s verification feature ensures transparency and authenticity that can allow clients to follow-up on their cases hence fostering trust between the law firms and their customers.