All industry can confess of the many reasons why technology is a very important resource. The education system is the other beneficiary of the technology because nowadays the teachings are by technological ways and also access information is another great advantage. An example of an industry that has benefited tremendously by the emergence of technology are the businesses because, with digital technologies such as the Internet, businesses can market the product and services to a broader market through the online platforms. There are also challenges that come with technology especially when companies transact businesses using the electronic money, it is not safe because of frauds. Research has been done for a long time now to come up with specific security measures to help businesses, individuals protect the information and also make businesses transactions better.
Blockchains is one of the technologies that has affected many industries. Blockchains can be understood mostly by people who use visual currency mostly associated with the bitcoin. There are important characteristics of blockchain that you should know, for example, it is a decentralized, digitalized and public ledger of all cryptocurrency transactions. One outstanding characteristic of the blockchain is that the information contained in there cannot be deleted from the public ledger. Blockchains is a technological discovery that has impacted a lot the law industry.Discussed below are some of the benefits of blockchain on the electronic discovery.
For a lawyer to win a case in a court of law, they have to have tangible evidence to prove what they are saying. Sometimes, in a case of business you might not have enough evidence to prove the frauds took place especially using electronic money and that is only limiting factor to a career of a lawyer. With blockchain, once the information is entered into the public ledger, the information is permanent and cannot be deleted by any technology and that is important for a lawyer to get a direct information without being biased.
Hiring a lawyer is very expensive especially for businesses and by the use of the blockchain it is cheaper.Lawyers will ask you to pay for the time they took to find the evidence to prove your case in the court of law which increases the overall price of hiring the lawyer but with things made easier by the blockchain, it becomes simpler to get information.
Today there are companies that are helping businesses in adapting the blockchain software and that is inexpensive for a law firm. For example, cicayda are ediscovery experts including professional such as aaron vick that helps law firms to focus on legal workflows, software and analytics.