Blockchain applications in legal
Use case 1. Intellectual property protection
For insufficient control over intellectual property, it becomes hard to manage access to it adequately; violations and thefts are part of the issue.
Only selected people with unique, cryptography-immutable property IDs will have access to each property asset, making anonymous entries next to impossible.
Use case 2. Unified database
Dispersed nature of legal records across databases and silos hardens their collection for due diligence, chain of custody, and other purposes, in some cases, making it even unattainable.
A single, overarching legal database allows for quick collection and processing of documents and fast retrieval of the required data items at any moment.
Use case 3. Quick notarization
Notarization of leases and rental agreements remains a costly and time-consuming procedure, with general notaries taking their part.
Smart contracts exclude public notaries from notarization processes, making those fast, person-independent, and tamper-proof.