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. 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.For long time now, there has been a lot of research done by many people, trying to figure out ways of reducing technological frauds and amazing discoveries being done.
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. 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. One of the industries that have been impacted a lot by the blockchain is the electronic discovery. Blockchain has impacted the electronic discovery a lot in the following way.
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. 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 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.
On the other hand, the clients that hire lawyers can benefit in different ways especially when it comes to the cost. 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.
Today there are companies that are helping businesses in adapting the blockchain software and that is inexpensive for a law firm. If you need to install the blockchain software, you can engage experts such as cicayda who are experts on ediscovery involving experienced and skilled person such as aaron vick.