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From a legal firm to an it company with a legal license?

Kjell Gunnar Birkeland Bleivik october 12 2021.

Most people have heard the term fintech, but not so many have heard the term legaltech.

Late November 2018, I attended a meetup with the biggest Norwegian bank DnB where the heading was "DnB From a bank to an it company". As a former employee in the Central Bank of Norway, I asked. How is that related to the Norwegian Finanstilsyn? The head of a DnB department answered. DnB is now an it company with at banklicense. Will the same happen with lawfirms?

Semantic links

Don't believe everything you read and hear on the internet.

Kjell Gunnar Birkeland Bleivik august 15 2021.

I remeber the early days on the internet, when the Norwegian browser company Opera (Vivaldi is a son of Opera), now owned by Otello had the motto.

"Don't trust any website".

I have thought of modifying that slogan, to "Don't trust any website until the opposite is proved" but has come to the conclusion that the original statement is best. A website can have been bought by criminals, taken over by criminals, infected or intruded in more advanced ways.

The rest is a story about my company and mininetwork that this site is a part of. One day I came across ScamAdvisor and checked MultiFinanceIT on that site: Results (My comments in brackets):

Positive highlights

  1. The site has been set-up several years ago.
  2. We found a valid SSL certificate.

Negativ highlights

  1. We checked the WHOIS database, but the contact details are not shared (Are you serious? Check Norid.no for the the company MultiFinansIt.no that owns MultiFinanceIT.com. So your automated software don't scan the footer. Do you need programming help? I have background in Assembly and C++.)
  2. Cryptocurrency services detected, these can be high risk (Do you mean links about the financial instrument that we treat with great care? We don't regard crypto as a currency or digital gold. We regard crypto as a highly speculative energyconsuming financial instrument.)
  3. High risk financial services or content seems to be offered (Can you be more precise? The site is mainly a portal.)
  4. Payment methods support anonymous transactions were found (Plain lie. We don't offer paymentservices. The site is mainly a portal.)

Is it possible to make money today being honsest? I think so. Listen to this video:

The digital revolution in law

Everything we know about today is going to be disrupted by blockchain technology.

Blockchain, smart contracts, artificial intelligence, robots and the internet of (every)thing(s) are transforming our societies. Will your next boss be a robot? According to Alibaba CEO Jack Ma's vision of the future, Robot CEOs and short work weeks are coming:

The CEO of Asia's largest ecommerce company said at a conference in China over the weekend he believes that we're just a few decades away from having robots run our companies.
Another person from the same company speaks of another trend, big data

So how will this affect the legal business and legal services? If you combine, artificial intelligence, machine learning and big data, you may get more information than you ever need. Can a legal dispute be a fight between robots in court in the future? May be not, but a smart law firm can use robots to analyse documents, predict a plausible outcome of a dispute etc. What are trade secrets? Put this query in a search engien: DEF CON 22 - Michael Schrenk - You're Leaking Trade Secrets. Look at the hits. I get two youtube video hits one with the following, URL id v=JTd5TL6_zgY and the other with URL id v=hVuj8xGSt8s. Both last 41.44 minutes. Here is the first. If you are a lawyer, there is an interesting exmple about 20 minutes in the video session.

More and more lawyers get interested in the sharing economy, structural finance and derivative pricing. It is not a second too early, and the path you are riding in the future, can be very important.

Semantic links and references.

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