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How the Electronic Discovery Benefits from the Blockchains

Many industries have benefited a lot by the emergence of technology. 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.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. 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. One of the explanations that many people can understand is that blockchains is associated with visual money such as Bitcoin or cryptocurrency. There are important characteristics of blockchain that you should know, for example, it is a decentralized, digitalized and public ledger of all cryptocurrency transactions. Another important fact about the blockchain is that it 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.

One of the tiring things about the law practice is the fact that you have to find a lot of evidence to prove your case. 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. With the new technology, especially with the blockchains, when transactions get into the public ledger, they cannot be deleted which is a great way of getting the evidence.

Hiring a lawyer is very expensive especially for businesses and by the use of the blockchain it is cheaper. With blockchains, a lawyer can get the evidence is low without much struggle because when a lawyer struggles to get information, they will charge you for the time and also the effort increasing the overall price of getting 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.

Quotes: https://www.law.com/legaltechnews/2018/05/15/the-emergence-of-blockchain-and-its-impact-on-e-discovery/