Benefits of Blockchains on Electronic Discovery
All industry can confess of the many reasons why technology is a very important resource. The education system is the other beneficiary of the technology because nowadays the teachings are by technological ways and also access information is another great advantage. In a setting of a business, for instance, there are many benefits to accrue from the technology, for example, marketing of product and services can be done using digital technologies such as online 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.
Blockchains is one of the technologies that has affected many industries. 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. Discussed below are some of the benefits of blockchain on the electronic discovery.
One of the challenging things about being a lawyer is the fact that you have to search for a lot of evidence for you to win a case in the court of law because you have to prove it. If you keep on losing many cases, you will not get the client and that is very dangerous for a lawyer because for some situations, there is not enough evidence to prove that the firm took place especially with electronic money. 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.
Hiring a lawyer is very expensive especially for businesses and by the use of the blockchain it is cheaper.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.
On the other hand, if you want to install the blockchain software, it is not expensive and also there is help. 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.