FinTech revolution is happening around the world. While sound financial institutions are exploring business possibilities, the real deal is happening in the startup scene. Bitcoin is just one of them.
Beyond decentralizing payments system around the world, Bitcoin is set to aid several industries. Legal services are a growing niche.
Mifiel is a Guadalajara-based initiative launched by the same team behind Volabit, a bitcoin transfers and exchange service in Mexican pesos. Mifiel allows Mexican people to use its electronic signature developed and supported by Mexican Ministry of Finance (FIEL) to sign any type of document.
Potential is clear for certification services, but in fact many other legal services could benefit. Namely e-discovery, M&As, contract management and judicial/administrative proceedings.
As NewLaw by non-lawyers is pushing traditional legal services to tech-driven law practices, Bitcoin could deliver the legal certainty for the rest of us.
The question is: Who will dare to become incumbent? Lawyers or Non-Lawyers.
Photo credit: Close Up 3D Illustration Of Paneled Golden Bitcoins by mdorottya / http://www.bigstockphoto.com