Looking into the future, we’re on the road to a new world where everything is linked and potentially possible.
People get connected with other people physically, through avatars, online tools, and any element that belongs to this new world. Rather than one device handling every calculation, a network of devices can now do this instead, benefitting of the cooperation of an entire network.
Every data is accessible, every service is sensing, automated, connected and shared…
We are on a new planet where industries totally shifted from inflexible, monolithic methods to more modular and microservices approaches.
But let’s imagine moving forward in time for a sec.
What does the future hold for us?
Flying cars and bases on the moon and Mars? Personal flying machines and private space tourism? Global monarchies in the metaverse without physical nations, with kings ruling through platforms and followers paying their tributes and attention to their wizards?
Back in 1980, remember how chunky and slow were our computers? The idea of reading electronic books? Or interact with touch screens, smartphones, virtual reality, chatbots, and avatars? Some people would have laughed at all those ideas, back in 1980. And what will our world really be like in 2050? Are we going to be still physically connected?
The world will probably be much like it is today, but surely different, interconnected, more automatic and possibly safe for all. Technology will get smaller and autonomous. We’ll be able to put computers and sensors into almost anything. We will probably eat food in pills…actually something similar already happens, somewhere… But this is another story.
Back in the future, towards a new innovative and futuristic planet, the society itself is more connected, agile, and smart (at least we hope so) with less bureaucracy and more focus on saving the planet for real and maybe discovering new ones.
And what about the law? Would legal technologies be truly adopted, and will they remove the clutter? I believe so. Lawyers would be fully immersed in their ‘legal innovation’, experiencing something radically new.
Hence the starting point of writing “The Smart lawyers’ Guide to Galaxy”. Yes, exactly what you are thinking about!
This is my view after having watched the movie The Hitchhiker’s Guide to the Galaxy’, created by Douglas Adams.
EST. GALAXY – NIGHT
While a spaceship is flying in the galaxy, a metallic voice, scanning words, announces: “The future is… unpredictable.”
“But whatever happens next, it will be a great time to be alive.”
(Quote: ‘The Hitchhiker’s Guide to the Galaxy’)
INT. SPACESHIP – DAYLIGHT
A Smart legal lawyer sitting in the control room on his spaceship, turns his chair and replies, winking a smile. Zooming slowly on his face: ”Meditate on how lucky you are, that life has smiled at you so far.”
In the main entrance hall of his spaceship, Mr. S (our Smart legal lawyer) points his finger at the huge and transparent screen on the window, and by voice command asks his assistant to click the orange button: “Press the orange button.”
BLACKOUT ON THE SPACESHIP
Fades in to black. A croaking voice screams: “DON’T PANIC, don’t panic!”
INT.SPACESHIP – BACK ON DAYLIGHT
In the spaceship control room, Mr. S sitting comfortably on his chair looking close at the camera, adds: ”No one can predict the future, but it can still be a good idea to be prepared for yours.”
Close detail of Mr. S’s left eye while he says: “What would you do if you find yourself trapped with no hope surrounded by billion on contracts on paper?“
Zoom out up to his both eyes, while he comments: “You are lucky as Smart contracts smiled at you.”
Over the footage of a spaceship flying in the galaxy, a narrator’s voice starts reading “The Smart lawyers Guide to Galaxy”:
“On Smart Galaxy, Smart legal contracts are live sources of intelligence able to add value to entire ecosystems, organisations, industries, individuals, the entire environment, and even ants’s colonies!
Smart lawyers are so familiar with the technology and processes that can combine this knowledge with their legal expertise to build safer and more performant legal architectures where new opportunity can flourish and can provide on demand, focused and actionable advice to clients.”
INT. SPACESHIP – DAYLIGHT
A Smart legal lawyer, looking at the camera, blinking: “It’s a tough galaxy. If you want to survive, you’ve gotta know… where your automatic hand dryer is.”
Panning camera to the left to film the main video screen, located in the hall of the control room. After some croaking noises, the face of the narrator on the screen appears, he wins a smile and proceeds to read the Guide: “Based on blockchain technology, Smart legal contracts increase efficiency, transparency and reduce transaction costs.
Trakti Smart contracts apply technology to the entire contractual process.
Behind the sources of intelligence of Smart contracts there is a contract assistant who is accurately creating, labelling and filing electronic contracts, automatically paying people, comparing, reviewing, evaluating grids, sharing drafts, preparing reports and much more…
Blockchain records transactions, tracks assets and transfers ownership.
Database is decentralised, there is no need for a central administrator.
And data is recorded identically and shared in multiple locations, enabling all parties to view the entire transaction history identically.”
The narrator stops his reading, approaching his face close to the camera, and whispering adds: “So long… and thanks for all the fish!”
Waving goodbye with his left hand, he asks: “Are you ready to jump to the future? Yes?”
Then join Trakti, to be led to the Smart contracts Galaxy!
Click here: https://www.trakti.com/why-trakti-en/
Download Trakti White Paper “Using Smart Legal Contract in the real world“.