Lawyers get a bad rap, but without them, civil rights and even the rule of law could easily fall by the wayside. But the legal sector is imperfect, and technology is playing a critical role in making necessary changes, from making representation more affordable to streamlining processes that allow justice to be done.
Industry insiders lend their perspective on the technologies shaping the future of law:
Jay Arcata, Lawyer and VP of Client Relations at BX3 Capital
“Smart contracting is a transformative and far-reaching technology that will have a huge impact on the legal industry. Use cases finally are starting to emerge and one cannot help but look to the legal industry as one of the next adopters. For example, a smart contract for travel insurance is presently being used by AXA Insurance Company. Once an event that triggers the insurance occurs, payment is automatically made to the policy holder via smart contracts. A world where lawyers integrate smart contracts in title recordings, business transactions and supply chain management will become reality in the not-too-distant future.”