Benefits of Blockchains on Electronic Discovery
All industry can confess of the many reasons why technology is a very important resource. For example, the education system is another beneficiary of the technology because, through the Internet, there is a lot of information that the students get to benefit them. 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. 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.
Blockchains is one of the technologies that has affected many industries. 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. Once transactions have been entered into the public ledger, they cannot be deleted which makes the blockchain a very interesting digital discovery. 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 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. 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.
Hiring a lawyer is very expensive especially for businesses and by the use of the blockchain it is cheaper.Lawyers will ask you to pay for the time they took to find the evidence to prove your case in the court of law which increases the overall price of hiring the lawyer but with things made easier by the blockchain, it becomes simpler to get information.
On the other hand, if you want to install the blockchain software, it is not expensive and also there is help. For example, if you need the help to install the software, you can hire the cicayda who are ediscovery experts including experienced persons such as aaron vick will teach you on how to focus on legal workflows, analytics and software.