The Legal Services Board (LSB) has said blockchain technology could cut the cost of legal services for consumers. The LSB has urged front-line regulators to embrace the opportunities provided by blockchain and peer-to-peer distributed ledgers. Its research shows that only 2% of legal service providers are currently using blockchain. Dr Helen Phillips, LSB chair, said: “The potential uses of blockchain technology are both enormous and exciting, and it’s vital that the legal services sector seizes the opportunity to use it to improve access to justice.”
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
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