The Legal Industry Embraces Promising Blockchain Technology

Attorneys have realized that the blockchain technology is here to stay and its effects are just beginning. A group of them recently met at a ‘Blockchain and the Law’ conference to discuss issues touching on the future of the technology for the legal world. The conference afforded attendees the chance to listen to discussions on a wide of range of issues, opportunities, and use cases that are coming up with new technology. A consistent theme throughout the presentations was the fact that blockchain was a matter of when and not if. The speakers seemed to agree on the fact that the technology will become a part of attorney’s lives soon and they needed to consider how to make the most of it.

The event provided a chance for leaders in cross-section fields to give brief presentations about the technology and how it could be related to legal work. The speakers talked about how commerce may be affected by blockchain technology and how the legal sector will be affected by its growth regarding how it delivers its services. In addition to noting that the distributed ledger technology will no doubt change the legal industry, the lawyers also delved into specific use cases to provide the audience a sense of why and how the blockchain needs to be embraced and implemented in legal services.

One of the speakers discussed the specifics of how the blockchain technology will change the world of trademarks. She described an instance of a trademark battle between a makeup store owner and the Kardashian family. According to her, such conflicts can be solved by blockchain as it can show when a trademark was first used by recording its time-stamp. Blockchain technology will no doubt alter law practice in the coming future by creating a more fair, transparent, and affordable system