Jusletter IT

Smart Contracts – Not so Smart Legal Professionals?

  • Authors: Charlotta Kronblad / Helena Haapio
  • Category: Articles
  • Region: Sweden, Finland
  • Field of law: LegalTech
  • Collection: Conference proceedings IRIS 2018
  • Citation: Charlotta Kronblad / Helena Haapio, Smart Contracts – Not so Smart Legal Professionals?, in: Jusletter IT 22 February 2018
Smart contracts are becoming all smarter and increasingly available. Yet there seems to be a reluctance in mainstream industry to actually use them. It seems hard to convince general counsel, law firms, and purchasers of legal services to implement smart systems. This is a challenge for the providers of smart technology. The technology is not the problem – successful implementation is. The aim of this paper is to explore the resistance and gatekeepers within the legal industry, potentially resulting in a better understanding of how to overcome the barriers and use available smart technology.

Table of contents

  • 1. Introduction
  • 2. Theoretical frames: barriers and enablers of implementation
  • 3. An illustration of barriers and gatekeepers – the case of the Swedish legal industry
  • 3.1. Current hindering organizational structures and gatekeeping partners with veto power
  • 3.2. Only few assert smart contracting as a business opportunity
  • 4. Innovation in contracts and lawyers’ work products remains rare – but is long overdue
  • 5. Overcoming the barriers and convincing gatekeepers to change
  • 6. Where do we go from here?
  • 7. References

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