Blockchain development for Legal

Utilize the capabilities of blockchain technology to streamline your legal operations.

by automating the implementation of legal contracts and establishing a secure and sustainable database for important documents.

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Key challenges for the legal industry

The legal industry currently faces several issues such as an abundance of paperwork, inadequate security, transparency, and slow processes due to outdated methods and practices. Fortunately, blockchain technology can provide a solution by creating an automated, efficient, transparent, and tamper-proof environment for legal operations.

SmartBlocks provides blockchain solutions that address the essential aspects of the legal industry, including:

Data storage

Law firms recognize the importance of having a well-organized and easily searchable database, as they deal with piles of legal documents that claim property ownership, rental agreements, and other rights.

Documentary evidence

In some jurisdictions, there is a requirement for traditional documentary evidence with an auditable and provable chain of custody. However, these documents may become irrelevant at the time of their presentation.

Arbitration cases

Arbitration is a preferable alternative to court proceedings, but it is still a slow and cumbersome process. The average turnaround time for an arbitration case through FINRA is 14 months, and the agency currently has a backlog of 4,800 cases.

Notary services

General notaries are required to verify signatures on legal documents, such as leases or rental agreements, which makes the notarization process costly and time-consuming.

Manual work

Legal contracts still rely on physical signatures, which are handwritten and certified, leading to a time-consuming process that requires the physical presence of all parties involved.

Intellectual property

Violations of intellectual property, such as music, videos, or art, are a common occurrence in the industry due to the lack of access permission control.

Cutting-edge solutions

The SmartBlocks team is pioneering the frontiers of blockchain tech and employing it to drive your company’s success.

Blockchain for legal: applications

Blockchain technology has demonstrated its ability to provide solutions to the many challenges facing the legal industry, Below are various successful use cases.

Automated agreement execution

Utilize self-executing ‘smart’ contracts on the blockchain to automate the process of contract signing. These contracts execute agreements between parties automatically when specific pre-arranged conditions are met.

Immutable data storage

The blockchain can provide a useful tool for arranging irreversible data storage where users can submit FOIA requests without the risk of altering data or accessing confidential information. This creates a tamper-proof database.

Efficient dispute resolution

Smart contracts can reduce the number of possible disputes between parties. When differences arise, smart contracts can automatically assign arbitrators from a pre-selected database, resulting in a cost-effective method of arbitration.

Tracking of evidence

Blockchain technology enables the recording of chain of custody for evidence. Evidence can be stored directly on the blockchain, or smart contracts can require that any changes in custody be recorded on-chain, resulting in a tamper-proof and auditable record.

Removal of intermediaries

By using the blockchain, there is no need for notary services. Every document on the blockchain is verified by a digital signature, which serves as evidence of its authenticity, eliminating the need for intermediaries.

Safeguarding of property

Users can register their intellectual property rights with unique IDs, which helps minimize the chances of violation and fraud. This provides protection for property rights and ensures that ownership is clearly established.

How can smart contracts revolutionize the legal industry?

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Blockchain opportunities for the legal industry

The implementation of blockchain technology may eventually extend beyond its current applications, and here are a few examples of potential new use cases.

Automated issuance of assets

Smart contracts can be utilized for estate planning, where assets are provided to an executor upon the occurrence of a specific event or date. This allows for automatic issuance of assets at the appropriate time.

Maintenance of public records

Governments often struggle with maintaining and extracting insights from census data due to its fragmented nature. The blockchain can address this issue by providing secure and shared record storage.

Compliance with regulations

Blockchain technology can streamline the process of regulatory compliance and reduce costs. Regulators can access secure blockchain records to check certifications as needed.

Transform your legal operations with SmartBlocks

SmartBlocks is equipped with extensive knowledge and experience in blockchain development, allowing us to tackle the unique challenges faced by the legal industry. Whether it's a customized blockchain or a dapp, we provide a personalized approach to every project.

Expert guidance

As blockchain technology continues to expand into new areas, the legal field must adapt to these changes. At SmartBlocks, our team of blockchain experts is available to provide insightful consultation and conduct blockchain workshops to help you navigate this evolving landscape.

Customizable blockchain solutions

Whether you require a public, private, or hybrid blockchain for your legal documents, SmartBlocks can create a white-label blockchain protocol that is customized to your specific needs.

Decentralized applications

At SmartBlocks, we can develop a decentralized application to automate your workflow using smart contracts. With our solution, you can make your legal operations more efficient, speedy, and precise.

Why work with us

Extensive expertise

You’ll get access to the expertise both of our own blockchain products and of successfully implemented custom solutions

HIGHLY-SKILLED DEV TEAM

All our tech solutions are built by the in-house cross-functional team. The strongest blockchain specialists on the market will be working on your project

CUTTING-EDGE SOLUTIONS

The SmartBlocks team is pioneering the frontiers of blockchain tech and employing it to drive your company’s success.

PROFOUND R&D

SmartBlocks' outstanding R&D department deeply researches unique ways of improving your products and services, so we can implement them together.