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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