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How Blockchain Technology Will Revolutionise Legal Services

Blockchain technology tends to revolutionize legal services and the young entrepreneurs and legal experts or lawyers will benefit from this new concept. But there are various reasons which stop the legal industry to digitize and globalize their legal services. Law firms spend a huge amount on infrastructures like paying office rent and staff salaries and their customers have to pay high costs in a result. An involvement of intermediaries or middlemen in the services leads to a long time wait and charging more money as well. The firms follow bureaucratic structures and find difficulties to adopt new technologies. Most start-up founders face difficulties to find those lawyers who are capable to work with the new technologies and solve tricky situations.

Legal Nodes is one of the platforms who provide new online legal services to individuals. The main objective of this platform is to develop a law firm called “Decentralized Law Firm” in order to provide the services with lower costs and more access to justice. It follows a trend called “legal blockchain” and this new trend is all about the creation of legal innovations in order to provide access to relevant legal expertise.

Legal Nodes helps its worldwide customers to make direct communications with those worldwide legal experts they wish to work with where they can resolve trust issues with their respective legal experts by using smart contractsThey will get support from the online client-centered legal instantly and efficiently. It provides lawyers with working opportunities where they can use their unique expertise and experience. They will have working freedom where they can work from any location directly.

Legal Nodes has those developers who have their background in legal which means it provides true legal engineers. The founders of this platform have a piece of immense knowledge in the Blockchain technology, Forbes reported.

Italian Government Moves Towards Blockchain Technology Terms

The Senate committees of Constitutional Affairs and Public Works of Italy approved an amendment called “Decreto semplificazioni,” on January 23, 2014, and this amendment is related to blockchain industry regulation. The main purpose of the amendment is to provide those technologies which are based upon distributed ledger technology (DLT) along with the smart contract definitions. It is stated that the blockchain-powered digital data record will validate the documents legally during the time of the registration process. This decision of the Italian Government shows the first regulatory move towards the blockchain, Cointelegraph reported.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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