Professors are building what they call a “digital court for a digital age” via blockchain technology.
They believe that this effort will “save time, money, and effort.” That, and of course, information can not be altered once it is on the blockchain.
The two professors, Hitoshi Matsushima and Shunya Noda, the former at the University of Tokyo and the latter at the University of British Columbia in Canada.
Of course, this system would ensure legal disputes could take advantage of the technology, a field that hasn’t been much explored.
Speaking on the matter is professor Matsushima:
“We designed a digital court which identifies and punishes parties who deviate from legal obligations such as commercial activities, but could potentially be any kind of agreement. On suspected violation of some agreement, those involved post their opinions to this digital court. The court algorithmically aggregates the parties’ opinions and judges who violated their agreement. If the digital court judges that a party violated the agreement, the party is fined by withholding a deposit made during the initial agreement.”
They plan on keeping costs cheap by limiting their interactions with the blockchain, but the storage there will be immutable and able to look back on forever.