Q3 Technologies has been able to implement blockchain in the legal industry and improve the industry’s ability to maintain records and chalk up contracts.
Blockchain technology has gained quite a bit of attention over the last few years. When we think of tech industries, the legal sector is the one that comes least in our mind. However, blockchain has the ability to affect the practice of law and drag into this century.
Q3 Tech can help make a huge difference in the law sector. Blockchain application for law can make a significant impact in the legal world. Smart contracts and legal contracts are still written on the paper, with signatures necessary on original documents, and moreover, it requires a significant time to accomplish. Blockchain can change that into a digital process which will be known as ‘smart contracts.’Property rights show how property is sold, bought, or rented. Local government offices in this sector are stuck in the last century when it comes topaperwork, with piles of ledgers, property cards, and dusty old papers all over. The blockchain for law industry is ideally suitable for a chain of custody, particularly for more digital files. Blockchain can be used to not only track the custody of documents but also to store the documents themselves.
The blockchain companies in law sector like Q3 Tech are becoming more common; lawyers will need familiarity with the crypto-assets in wide-ranging scenarios such as divorce proceedings, international transactions, and wills.