Blockchain technology would allow lawyers to connect in real time with all those involved in the process of an inheritance and avoid travel expenses
In an increasingly competitive and global environment, technological disruption reached all sectors, including the legal one, to make an important difference. In this sense, blockchain will now be part of the legal technology, or legal-tech, that will streamline the fastidious work of legal professionals.
The so-called legal-tech allows lawyers to develop their work more efficiently. Digital Lawyer Box, for example, is a tool that seeks to optimize their work, allowing lawyers to connect in real time with all participants of the processes that involve a large number of people, such as inheritances. In this way, travel expenses are avoided.
This creation was devised by My Digital Legacy that a platform for advising, managing and executing digital assets. The objective of Digital Lawyer Box is the digital transformation of independent law firms and lawyers.
Digital Lawyer Box has electronic time stamp, digital signature and cognitive cybersecurity to offer legal accuracy of date and time, trust, certification, security, traceability, automation and preservation of long-term information.
It Won Recognition
My Digital Legacy presented its initiative during the XII National Congress of Lawyers, in Valladolid, which took place from last May 9th to 11th. In this event, Digital Lawyer Box won a special mention.
With Digital Lawyer Box the legal professional can know, control and manage all the files, procedures and services related to the digital identity of the people.
In the legal sector, blockchain technology works to track transactions. The chain of blocks is very difficult to modify; hence, it can provide a complete record of any transaction, avoiding violations of the information.
Blockchain and the Smart Wills
A few months ago, My Digital Legacy presented its Smart Testament project, which uses blockchain technology to streamline procedures and also avoid travel expenses.
The mechanism is to make a smart contract known when the person dies. This document will include all the wills that the holder contemplated in life, the physical patrimony, the digital goods, the genetic legacy and the declaration of anticipated wills or vital testament.
My Digital Legacy was founded in 2012 and has become a reference in terms of the processing of digital data, guaranteeing the protection of rights such as health, honor, image, privacy, online reputation, oblivion and secrecy communications.
In addition to Digital Lawyer Box, other tools used in legal-tech are Machine Learning, which allows taking advantage of the power of algorithms to classify legal documents, and eDiscovery, which helps choose the right court for each case, allows consulting the judgments, evaluating the parties involved and reviewing a large volume of documentation.
The legal sector is constantly growing. According to the legal-tech and startups expert Marti Manent, Founder of Derecho.com and elAbogado.com, Spain is among the three or four most important startup hubs in Europe.
The development of these platforms may be just beginning, but it is already said that blockchain can replace notaries and current-human public registers. Time will tell.
By María Rodríguez