Blockchain research & industry insights

Take an in-depth look at blockchain technology's latest developments, projects and products.

The Agreements Network: Turning Legal Services into Legal Products

Will automated transactions increase efficiency and allow the legal industry to finally keep up with market demand? Can transactional lawyers turn their services into products? The Agreement’s Network has created a marketplace platform that invites lawyers to create and market legal products in an attempt to disrupt the $600 billion transactional law industry.

Is Data on Blockchains GDPR Compliant?

The European Union’s General Data Protection Regulation (GDPR) was implemented on May 25, 2018. The regulation establishes one set of data protection rules for all companies operating in the EU, attempting to give people more control over their personal data.

GDPR was first proposed in 2012 and adopted in April of 2016, occurring at a time when the development of blockchains all over the world was gaining initial traction - creating both potential legal barriers for the implementation of blockchains and opportunities for blockchain projects to help companies navigate through the GDPR regulations.

Improving ADR with Blockchains

Alternative dispute resolution (ADR) proceedings are a popular means of resolving conflicts between parties outside of the traditional justice system. Traditional litigation, which is time-consuming and complex, very often is not a practical solution for disputes. ADR proceedings such as mediation and arbitration, offer less procedural overhead, may provide faster resolution to the dispute, and have a higher degree of confidentiality than litigation. They also allow the parties to choose arbitrators that are specialized and better suited to deal with the issues at hand. Moreover, the decision-making process encourages open participation (under the guidance of the arbitrators) by all the parties to achieve a more equitable result. Thus, both arbitration and mediation are widely employed to resolve disputes and negotiate matters.

Changing the Legal Paradigm: Should Attorneys Learn to Code?

 

Implementing Blockchain in the Public Sector

Governments’ interest in blockchain stems from the technology’s ability to improve security, transparency, efficiency, and speed in government services and processes. Generally, government agencies use inefficient, centralized systems that do not provide transparency. Even though many governments value agency interoperability, system infrastructure is often siloed and isolated from the others, making it time-consuming and expensive to share information and transact assets between the different parts of the government network. The current inefficiencies in government systems make government services and operations prone to error, cyber attacks, information manipulation, and corruption. Governments across the world are realizing that blockchain technology can be a practical solution to many of these problems.

The OECD Takes on Role to Help Develop Blockchain Policy

As the implementation of blockchain technology increases, so does the list of international organizations getting involved in its development. Some organization on the list include the International Organization of Securities Commission (IOSC), which recently published a wide-ranging research paper that includes findings on blockchain tech; the United Nations Development Program (UNDP), which partnered with Blockchain, the world’s leading software platform for digital assets, the UN Refugee Agency (UNHCR) and the World Economic Forum (WEF) to explore the use of blockchain technology for development; and the World Bank, which launched a blockchain lab as part of a bid to pilot projects that can improve governance and social outcomes in the developing world. Recently, the Organization for Economic Cooperation and Development (OECD) added itself to the list by launching a number of projects that focus the collaborative efforts of its thirty-six member states on blockchain research, development, and implementation.

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