How the Electronic Discovery Benefits from the Blockchains
All industry can confess of the many reasons why technology is a very important resource. Technology is a great advantage especially when it comes to the education system because of the access to information and also the use of technological devices for learning. An example of an industry that has benefited tremendously by the emergence of technology are the businesses because, with digital technologies such as the Internet, businesses can market the product and services to a broader market through the online platforms. However, other companies nowadays can transact businesses using the online money, it is not as safe as it may sound. Research has been done for a long time now to come up with specific security measures to help businesses, individuals protect the information and also make businesses transactions better.
One of the examples of the new technologies that are beneficial to many industries is the blockchains. Blockchains can be understood mostly by people who use visual currency mostly associated with the bitcoin. Therefore, blockchain is a decentralized, digitalized public ledger of all cryptocurrency transactions. Another important fact about the blockchain is that it cannot be deleted from the public ledger. Law firms have been affected a lot by the discovery of the blockchain. Discussed below are some of the benefits of blockchain on 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. Sometimes, in a case of business you might not have enough evidence to prove the frauds took place especially using electronic money and that is only limiting factor to a career of a lawyer. 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.
On the other hand, the clients that hire lawyers can benefit in different ways especially when it comes to the cost. It is only on the client because lawyers charge for the effort and the time they used to search for the evidence but with the public ledger, the evidence becomes easy to get hence reducing the overall cost of hiring a lawyer.
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.