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Smart contracts
Ethereum is a new rival blockchain and virtual currency to Bitcoin which allows for the programming of smart contracts, or computer code that facilitates or enforces a set of rules. Commercial lawyers are watching the arrival of Ethereum closely given the potential for smart contracts in the future to affect their role in drafting and exchanging paper contracts. Smart contracts are currently being used to digitise business rules, but may soon move to codify legal agreements leading to less need for lawyers.
26 August 2017 by Lynn Wood
 
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LegalTech

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A replacement car from the "at fault" party or insurer
Right2Drive's mission is to uphold the rights of drivers to ensure uninterrupted motoring when they are deprived of the use of their car as a result of a motor accident. Many do not know of the Australian legal precedent under which Right2Drive operates that provides: "In the event of a multiple car collision, it is an obligation by law for the at-fault party, or the at-fault party?s insurer, to bear the cost of a like for like replacement vehicle for the no-fault party." Regardless of who was at fault in your motor accident, Right2Drive can get you back on the road without fuss for the duration of your vehicle repairs, or until you receive your total loss settlement. If you?re not at-fault or if you have optional replacement vehicle cover, there is no cost.?Right2Drive was recently taken over by the listed company Eclipx. www.eclipxgroup.com
26 August 2017 by Lynn Wood
 
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LegalTech

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A social credit score
China plans to implement a system that collects financial, social, political, and legal credit ratings of citizens into a social credit score. It will then determine if a citizen can use certain services based on his or her social credit rating. https://futurism.com/chinas-new-social-credit-score-brings-dystopian-science-fiction-to-life/ This type of score is already being used by a matchmaking service in China. http://www.ideaspies.com/post/a-matchmaking-service-that-allows-you-to-display-your-social-credit-score/ It r
24 August 2017 by oliver
 
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