The year 2022 is already here, knocking on the door and pregnant with a million possible outcomes. For Nigeria, the year 2022 is undoubtedly slated to be an eventful year – for amongst other things it is a prelude to an election year, a possible census year and a projected year of economic recovery following the heights of the Covid scourge
The dominant barrier to the adoption of technological advancements, like smart contracts, is a cultural challenge in Nigeria. The consistent culture of having knowledge and suffering needs to end, for it is time for adaptation and not just talking.
For Lawyers, this presents both a responsibility and an opportunity. It is no longer sufficient to observe the potential of innovations such as smart contracts from the sidelines.
Technology has emerged as a vital tool in bridging the gap between the Nigerian justice system and the people it serves. By streamlining Court processes, enabling remote access to legal services, and improving transparency, technology has significantly contributed to enhancing access to justice.
Over time, arbitration stands out as a well-suited mechanism for resolving disputes related to smart contracts. Parties engaged in blockchain disputes can select arbitrators with specialized technical knowledge, ensuring a comprehensive examination of the code and a nuanced interpretation of the contract terms.
The development of legal technology, like its counterparts in diverse fields, took a progressive approach and lawyers in the earlier centuries were seen making use of ‘technological’ tools such as typewriters, phonographs and dictation machines, fax machines for the sending of documents, UBIQ terminal used for searching cases online, etc.
