Benefits of Blockchains on Electronic Discovery
All industry can confess of the many reasons why technology is a very important resource. For example, the education system is another beneficiary of the technology because, through the Internet, there is a lot of information that the students get to benefit them. Additionally, the business industry benefits a lot from the technology especially because of online marketing and digital marketing. There are also challenges that come with technology especially when companies transact businesses using the electronic money, it is not safe because of frauds.For long time now, there has been a lot of research done by many people, trying to figure out ways of reducing technological frauds and amazing discoveries being done.
Many discoveries have been made and one of the techniques being used today is the blockchains. The people who work with virtual money can perfectly understand the term blockchains because it is associated with bitcoin or cryptocurrency. There are important factors that can explain blockchain because 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. The following are the different ways blockchains has impacted 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. If you keep on losing many cases, you will not get the client and that is very dangerous for a lawyer because for some situations, there is not enough evidence to prove that the firm took place especially with electronic money. Getting information with the current technology that is the blockchain, is easy because once the information is in the public ledger, it cannot be deleted hence that information becomes very important to winning the case.
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.