By As we’ve mentioned in previous articles, the uses of blockchain technology are nearly endless. The most recent sector to implement blockchain tech is the legal sector.
A Chinese arbitration body based in the city of Nanjing recently launched an online system with a built-in blockchain network. For what you say? Well, this blockchain system is used for the storage and depositing of data in legal disputes.
On Thursday the 27th September The Nanjing Arbitration Committee announced that their online platform is officially in a live testing phase.
All data uploaded to the platform will be done so in a distributed fashion with various participating nodes for evidence deposition, financial institutions and other arbitration committees. 
Back in 1995, the Chinese government passed a law that enabled city district governments to form arbitration committees which have the legal authority to rule on any economic disputes which relate to contract issues in the real estate, financial and business sectors.
This online system will allow parties who are engaged in contract disputes to pull-up and view digital evidence simultaneously over a secure, safe and distributed network said the Nanjing committee. The blockchain’s integration is aimed to help facilitate the issuing of rulings within 30 days of filings & will help lower costs that may be incurred during any legal disputes.
This move comes hot on the heels of China’s Supreme Court’s recent announcement, where they stated that they recognized evidence stored & authenticated on a blockchain network as legally valid for use in online rulings across all internet courts in the nation.
The Nanjing Arbitration Committee is not the first body to have successfully implemented blockchain tech for use in a ruling procedure, a Xinhua news agency reported back in March that the Guangzhou Arbitration Committee previously worked with Tencent-owned WeBank a pioneer in online-only banks in China in order to move loan data over to a blockchain system as part of an ongoing trial.
The report claimed that the Guangzhou Committee is able to automatically issue rulings based on data stored on the blockchain to all parties involved with any contract whenever any loan default might occur.
The uses of blockchain are becoming more apparent as more industries adopt them. Could more legal firms start using the technology? Let us know your thoughts
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