How Lawyers will be Killed by the Blockchain and not Machine Learning
Chris Herd
10713

This is simply nonsense. There cannot be one contract for different businesses, not even one contract for each type of transaction. All transactions have their nuances. Moreover, law firms and legal departments have used precedents for years which they need to tailor according to requirements. Yes, some of these agreements can be automated but even that is old news. And that is artificial intelligence not blockchain. As for payments, yes, those can be triggered automatically based on completion of milestones in the system. It doesn’t really require blockchain and doesn’t require lawyers but more administration and finance people. So I don’t see what this is about. The author does not know enough about how the legal profession works, the fact that so much of this has been automated long ago and how standard form contracts are used by businesses for decades with minimal involvement from in house (and not external) lawyers.

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