What Are The Challenges To Blockchain Adoption In The Legal Industry?

What Are The Challenges To Blockchain Adoption In The Legal Industry?

It doesn’t take Ruth Bader Ginsburg to rule that blockchain technology is on an upswing. It’s clear that this stuff is on the rise, but what’s a credible assessment of blockchain adoption in the legal industry look like?

Challenges to  broader industry adoption include technological illiteracy and an aversion to investment without a guaranteed return. Lawyers must see blockchain’s impact in order to invest. Without a basic understanding of blockchain’s unique benefits, it’s a substantially harder pitch.

Scalability presents another hurdle. Will a multinational law firm see the same impact that a local one will? This remains to be seen.

Then there’s the most pressing concern of all: will blockchain help attract and retain clients? Even once it’s implemented, proving blockchain’s immediate impact will be nearly impossible.