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You are viewing ARCHIVED CONTENT released online between 1 April 2010 and 24 August 2018 or content that has been selectively archived and is no longer active. Content in this archive is NOT UPDATED, and links may not function.Extract from article by Herbert L. Roitblat, Ph.D.
Why Blockchains Might Matter to eDiscovery
The blockchain provides a way to track and verify transactions without requiring a central tracking authority. Right now it is used mainly by Bitcoin (or similar crypto-currencies), but it could find applications in other domains. Many organizations, including IBM, at least two states, and several financial institutions, are exploring the use of blockchains in their businesses. If these uses become common, they will certainly figure in future litigations. Blockchains will join the list of sources that must be considered in eDiscovery.
As an example of the interest among financial institutions in blockchain technology, DTCC (Depository Trust & Clearing Corporation) recently held a well-attended symposium on the use of blockchain technology in clearing transactions. DTCC is pursuing blockchain technologies because they believe that these technologies have the potential to address perceived shortcomings of the post-trade process. If this turns out to be true, blockchain technologies are likely to play an important role in future financial litigations, where, for example, transactions can be verified.
Read the complete article at: In God We Trust. All Others Use Blockchain