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NRI Secure Technologies develops the Blockchain security monitoring serviceIn 2018, smart contracts and their users have become a bit smarter about security. The Japanese software company NRI Secure Technologies has launched a new blockchain security monitoring service in an attempt to help customers resolve some of the weaknesses that hackers typically exploit during a cyber attack. The first major game of the service includes the assistance of ConsenSys Diligence and its intelligent tool for diagnosis and analysis of the security of the Mythril contract. Designed to analyze and review the smart contracts hosted on the Ethereum blockchain system, Mythril examines each integrated route in the program and evaluates the bycodes of the underlying blockchain to find weak points such as integer overflows.
Blockchain expands the scope of legal workflow products: Blockchain will feed a line of new cloud-based legal workflows and document management products created by NMBL Technologies and the blockchain developer Dragonchain. It is expected that the fruits of this partnership will reach the market towards the end of 2019 and will be allocated to internal departments. NMBL co-founder, Big Law, Daniel Farris, had previously told ALM that law firms had struggled to integrate the blockchain into their daily procedures because the restrictions imposed by the attorney-client privilege make it difficult to validate the transactions carried out on a distributed network. The NMBL / Dragonchain platforms will be able to confirm transactions in real time and are being developed to meet a wide range of needs rather than the narrower focus, typical of products oriented towards private practices.
Sovereign identity solutions have encountered new questionsEven the blockchain-based sovereign identity solutions have made some small strides in 2018. Last February, the Austin-Travis County EMS, the University of Texas Medical School and the City of Austin collaborating on the development of a new tool that would provide the city's homeless population with easy and secure access to personal information help organizations often needs to provide assistance. But the tool, called MyPass Austin, still has a long list of questions to answer before it can officially hit the market. The team is working to develop an effective login credential while browsing various privacy laws and attempting to build trust in users. Whatever the final result may be, it could indicate how the blockchain could be used to manage personal identification information going forward.
Permissive blockchains could be the key to widespread use: Walmart also entered the blockchain action this year. To help reduce the spread of E. coli, the retailer asked his lettuce suppliers to upload data about their products to a blockchain database developed by IBM. Similar applications – permissive blockchain calls – allow parties directly involved in a transaction to proceed securely without a platoon of intermediaries between them, which could be a necessary step on the path of technology for widespread adoption by law firms and other companies.
The missile lawyer paves the way for Smart Contracts: Last fall, Rocket Wallet went through new ground providing one of the first uses of smart contracts developed specifically for the legal consumer market. The service is a partnership between the document assembly provider Rocket Lawyer and the blocker developer ConsenSys, using the protocol based on blockchain of the latter for legal agreements as a protocol. Users can draw up a legal employment contract and enter specific actions that trigger the transfer of funds that have already been deposited into a Rocket Wallet account. A beta version of the service was released in October with a public version scheduled for the beginning of 2019.
LegalZoom offers smart contracts to the legal services marketA few days after Rocket Lawyer and ConsenSys announced Rocket Wallet, LegalZoom entered the smart contract market. The company has partnered with contract technology provider Clause Inc. to allow LegalZoom users to modify and sign contracts using the Clause platform. These contracts are then automatically executed on the blockchain after the completion of an & # 39; activity.
A startup wants to plug the holes in Smart Contract SecurityIn August, the technology startup Sagewise closed a $ 1.25 million fund-raising campaign led by Wavemaker Genesis with the goal of addressing some of the security risks encountered in smart contracts. Sagewise products include a notification tracking tool that alerts users when their contract is being executed and a software kit that can stop the process in the event that a dispute arises. In this case, users may also choose to involve a pool of resolution lawyers, arbitrators or pools of jurors from the Sagewise Dispute Resolution Market.
This was the year when the benefits and dangers of blockchain began to gain wider recognition. Developments in the legal services market over the last 12 months reflect the fact that a growing awareness of a multitude of new products and services has spread and defended from the possibilities inherent in technology. From smart contract platforms to security monitoring services, here's a look at the 2018 blockchain developments.
