Today, a host of opportunities have opened up, thanks to the development of blockchain, the decentralized ledger system. Law firms facing stiff competition from non-traditional players and diminishing demand from corporate clients consider implementing blockchain in their businesses to support the changing nature of legal work. Blockchain enables enterprises to enter new lines of business and differentiate service offerings smoothly.

Blockchain, with its tremendous potential, is now disrupting the legal industry in various areas such as land registry, smart contracts, chain of custody, litigation and settlements, and general financial transactions. Blockchain is widely used in the legal sector due to the wide range of ledger-based activities in the legal industry.

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Last Updated: May 2020