How the Electronic Discovery Benefits from the Blockchains
Many industries have benefited a lot by the emergence of technology. The education system is the other beneficiary of the technology because nowadays the teachings are by technological ways and also access information is another great advantage. 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.Businesses nowadays can transact using online money or electronic money which is not a safe platform. There has the need therefore to take care of all the insecurities when it comes to the use of online transactions to protect information about the business and also the online money.
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. Law firms have been affected a lot by the discovery of the blockchain. Blockchain has impacted the electronic discovery a lot in the following way.
One of the challenging things about being a lawyer is the fact that you have to search for a lot of evidence for you to win a case in the court of law because you have to prove it. When a lawyer doesn’t have enough evidence, it means that they will continuously lose the cases and losing customers because of lack of enough evidence to prove that is. With blockchain, once the information is entered into the public ledger, the information is permanent and cannot be deleted by any technology and that is important for a lawyer to get a direct information without being biased.
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.