Ripple Insights published an interesting “potential on blockchain and law.”
Scott Chamberlain, an Entrepreneurial Fellow at Australian National University (ANU) College of Law, stated, “Imagine an eBay-like platform that can resolve consumer law disputes without engaging the court system,” stated
Scott Chamberlain is running a project called Lex Automagica, which is a tech stack automating legal processes. Scott envisions that this project will allow society to run like clockwork. He thinks, this is possible because, at the basic, the law is simple.
When a dispute happens, the law needs to confirm the identities of the people and things involved. To arrive at a resolution, the relationship and the rules of relationship should be clearly defined.
Scott opines that routine disputes can be resolved using blockchain and smart contracts. The key problem to be solved is to differentiate the different types of legal problems, and to facilitate solutions suitable to the scale of dispute.
Identifying a specific legal problem is the first step. Then the technology solution will be outlined. This facilitates what Scott Chamberlain calls is the justice dividend.
Sydney Ifergan, the Crypto Expert, tweeted: “Ripple XRP insights on Blockchain and Law is an interesting spotlight. If blockchain can help with Law Enforcement and justice, that is just the beginning of everything regulated!”
Training and testing is a challenge when it comes to delivering justice using blockchain technology. Legal issues consist of complex negotiations. It takes a system for text-based simulations for legal matters. Initially, the system is tested versus real person and real person. Students are given tasks to identify a level problem and a solution. The students are scored and scored and rated.
Artificial Intelligence (AI) should be trained to undertake one-side of the scenario. From the existing scenarios, future versions will take the data and use them for the simulations training for legal matters and complex negotiation.
The very purpose of using AI in this process is to scale trust in the on-chain and off-chain membrane. Scott Chamberlain opines that it is not possible to run a Ferrari on dirt roads. Therefore, matching decisions to speed up transactions is crucial.
While envisioning law as a platform, the current legal platform facilitates sorting matter by matter; however, when a digital law platform is used, end-to-end solutions.
The transition will be from paper-based laws to digital laws, human lawyers and law firms to Robot lawyers, physical courts where the court is a place to court as a service, Bespoke services to Generic solutions, from a monolithic no choice situation to differential offerings with on-ramps and off-ramps for high-touch needs. Ripple XRP seems to encourage these moves.
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