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Blockchain: A Practical Guide to Developing Business, Law, and Technology Solutions by Michael Wuehler, Solomon Lederer, Rene Madsen, Kedar Iyer, Paul R. Allen, Joseph J. Bambara

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4   Legal and Governance Use Cases

The legal industry will also be transformed and disrupted by blockchain technology and the associated scripting language and protocols known as smart contracts. As we have seen, this technology is already affecting the banking, financial services, and payments industries. They implement blockchain to facilitate transactions, save on fees, and approach instantaneous clearing of transactions. The fintech movement, which has embraced blockchain, is always looking to disrupt traditional banking models and the software that supports it to deliver increased convenience, efficiency for service consumers, reduced risk, and of course lower cost of operations for financial services providers. For too long, lawyers have ...

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