Australian National University, Ripple’s UBRI Partner to Solve Legal Issues Using Blockchain
Blockchain tech has time and again proven its compatibility with most of the existing industries. The Australian National University is set to leverage this innovation in legal ecosystems with two upcoming masters programs next year. This initiative is a part of Ripple’s University Blockchain Research in which the firm has partnered with over 10 prominent universities to date.
The masters’ programs at ANU are under a project dubbed ‘Lex Automagica’ run by Scott Chamberlain who is an Entrepreneurial fellow at the university. Scott is enthusiastic about blockchain’s potential in solving law disputes digitally and compares the idea to that of Ebay but without the e-commerce platform as a middleman;
“Imagine an eBay-like platform that can resolve consumer law disputes without engaging the court system,”
Blockchain’s Value Proposition in Legal Environments
The value proposed by blockchain ecosystems is gradually being acknowledged by industry veterans including the academic fraternity. According to Scott, this tech can easily be replicated in law as legal identities have to be identified in any dispute. Basically, the advancements in blockchain such as tokenization, smart contracts, and decentralized networks can be combined to create fully-fledged dispute resolution processes.
Despite the goal of eliminating middlemen and gatekeepers, Scott was keen to note that blockchain ecosystems only complement the existing legal structures;
“This is not about getting rid of lawyers or eliminating jobs,” he added, “There will always be cases and situations that demand a higher level of expertise.”
With the new masters’ programs set to be offered at ANU, it is likely that more tech-specific solutions to different legal disputes will spring up. Given a $1 billion funding from Ripple back in February 2019, Scott is positive that the scheduled courses will indeed revolutionize legal disputes through blockchain tech. The entrepreneurial fellow also credited Ripple’s UBRI for their support in this project.
Other Universities that have pioneered initiatives under blockchain or DLT include the University of Southern Queensland and Melbourne. Both institutions offer DLT oriented courses in a bid to keep up with significant emerging technologies.