Ripple and the Law School of the Australian National University (ANU) have entered into a partnership to develop educational courses on blockchain in relation to the legal aspect.

The adoption of blockchain in the legal sector will bring many advantages and developments to the industry.

The Australian National University (ANU) School of Law in collaboration with Ripple is set to launch two new courses in its master’s program to explore the effects that blockchain will have on the legal profession.

With courses jointly developed by the Ripple Research Initiative which primarily aims to establish partnerships between universities to analyze trends and new developments in digital currencies for distributed ledger technology (DLT), digital payments, etc.

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The Australian National University has already taken undergraduate courses that critically analyze the relationship between blockchain and law, just as many other universities in Australia, such as the University of Melbourne and University of Southern Queensland are taking courses related to DLT and blockchain as other universities have joined them with other courses to be taken. as subjects in lecture rooms.

How will these courses work:

The blockchain modules will be operated and developed by Scott Chamberlain, one of the entrepreneurs at ANU Law School.

Designed courses will determine whether blockchain and smart contracts can help automate decentralized legal processes and dispute resolution.

Chamberlain, enthusiastic about the potential of blockchain, likened blockchain technology in law to an eBay platform that can resolve consumer disputes without having to involve a court.

and stated Also, many simple legal processes such as identity verification and the relationship between related parties as well as the rules governing interaction can use the blockchain.

Chamberlain continued:

A legal dispute dealing with legal identities recognized by law?

What legal things does the law recognize? What is the relationship between people and things? Is conflict resolution at its core?

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When you look at the blockchain space, technology does all these things and provides an answer to these questions.

Chamberlain operates ANU’s Lex Automatica platform, a step toward solving specific problems without having to involve brokers and gatekeepers in the legal industry, where Ripple contributed $1 million to the development of Automatica.

However, legal practitioners and those in academia are beginning to show a deep interest in the potential blockchain that could provide a centralized resolution of disputes.

As some projects are already using blockchain technology in courts such as “Jur”, “Kelos” and “Aragon”.

Advantages of blockchain in the legal sector:

By fully relying on blockchain in the legal or judicial sector, the technology is expected to bring many advantages and developments to the industry such as accessibility, transparency, cost savings, automation, data integration, etc.

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Blockchain technology can help professional legal practitioners streamline and streamline transactions, digitally sign legal agreements and store them unchanged.

The use of scripts, smart contracts, and automated contract management reduces excessive time spent preparing, customizing, and maintaining standard legal documents.

Furthermore, DLT technology helps create a common ledger that can be accessed by all parties to the agreement.

Blockchain-based contracts are compliant, and there are no surprises, so there is no room for misinterpretation.

Additionally, non-technologists can better understand the transactions they are entering into and what the smart contract represents.

Incorporating blockchain technology into the legal profession has many advantages that cannot be summed up in one article.

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