LawTech.Asia

Southeast Asia's foremost Law & Technology Review

Category: Contracts (Page 1 of 2)

Legal Technology in Singapore

Written by Amelia Chew, Jennifer Lim Wei Zhen, Josh Lee Kok Thong, and Tristan Koh

The LawTech.Asia is proud to publish the first-ever detailed outline of the legal technology sector in Singapore (as far as we are aware)!

This article is the result of a months-long project to map out the root, state and outlook of the legal technology sector in Singapore, and furthers LawTech.Asia’s fundamental purpose of improving awareness, knowledge and interest in legal technology. It is hoped that this article will be a helpful piece for legal professionals, legal technologists and law students to have a bird’s eye-view of legal technology in Singapore, and to assist in the building of a thriving legal tech community in Singapore. 

While intended to be extensive, the article does not purport to be exhaustive or authoritative, or to express the position of any particular organisation or initiative. This article will be a “living document” that will continue to be updated as more news comes to the fore.

To access the article, click here!

At the outset, the authors wish to express thanks for the innumerable sources of information available online, without which this project would not have been possible. Any mistakes herein remain the authors’ own.

#LexTech18 Quick Chats: Dipesh Sukhani, Advisor to ServisHero

Interview by Utsav Rakshit | Edited by Amelia Chew

Organised by Malaysian legal tech startup CanLaw, LexTech Conference 2018 is an APAC-wide regional legal technology conference taking place from 25 to 26 October 2018 in Kuala Lumpur. LexTech Conference 2018 aims to drive legal tech adoption in the region and strengthen the regional legal tech community. In the lead-up to LexTech Conference 2018, the LawTech.Asia team will be bringing to you regular interviews and shout-outs covering prominent individuals who are involved in the conference.

LawTech.Asia spoke with Dipesh Sukhani, Advisor to ServisHero and Co-Founder and Chief Business Officer of Indorse, about smart contracts. Dipesh will be speaking on a panel titled “Macro Trends and Practical Applications of Smart Contracts in Online Dispute Resolution (ODR)”.

What is stopping us from adopting smart contracts extensively?

There are two key factors hindering the adoption of Smart Contracts in our day-to-day life: (1) The scope of Smart Contracts; and (2) awareness. Let me dive into each of them.

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#LexTech18 Quick Chats: Aditya Shivkumar, Resolve Disputes Online (RDO)

Interview by Jennifer Lim, Josh Lee, and Ong Chin Ngee | Edited by Josh Lee

Organised by Malaysian legal tech startup CanLawLexTech Conference 2018 is an APAC-wide regional legal technology conference taking place from 25 to 26 October 2018 in Kuala Lumpur. LexTech Conference 2018 aims to drive legal tech adoption in the region and strengthen the regional legal tech community. In the lead-up to LexTech Conference 2018, the LawTech.Asia team will be bringing to you regular interviews and shout-outs covering prominent individuals who are involved in the conference.

LawTech.Asia spoke with Aditya Shivkumar, Co-Founder of Resolve Disputes Online (“RDO”), about smart contracts and online dispute resolution (“ODR”) – a topic that Aditya will be speaking on at the LexTech Conference.

What are smart contracts, and what sort of transactions can it be used for? How specifically do you think smart contracts can be applied in ODR?

Smart contracts are not your conventional paper-based contracts. It actually consists of lines of code. There are multiple coding languages for smart contracts, such as Solidity or Bamboo (if one is executing a smart contract on the Ethereum network). Smart contracts utilise blockchain technology. The former is the front-end, while the latter is the back-end. 

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Joint Call For Papers Law x Technology: Transforming the face of the Law

Technology disrupts for the better of those prepared. Legal practice is hardly impervious to the implications that technology brings. The advent of blockchain and machine learning technologies is an opportunity, and a potential cost if not pursued. Conversely, the use of technology is equally subject to legal regimes and institutions. Developing a sensitivity to the mutual interaction of the two forces is of utmost urgency as governments and peoples search for a firm footing.

The Singapore Law Review (“SLR”), Asia’s oldest student-run legal publication, and LawTech.Asia, Southeast Asia’s foremost law and technology review, are collaborating on a special issue of the Singapore Law Review journal and LawTech.Asia online publication on the theme “Law x Technology: Transforming the face of the Law”.

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TechLaw.Fest Quick Chats: Yeong Zee Kin, PDPC

Interview by Josh Lee | Edited by Amelia Chew

LawTech.Asia had the privilege of being a media partner for TechLaw.Fest 2018. The inaugural TechLaw.Fest held from 4 to 6 April 2018 saw the convergence of legal professionals, technologists, entrepreneurs and policy makers, conversant and passionate about Technology Law and Legal Technology, coming together to discuss the future of Singapore’s technology scene. During TechLaw.Fest, the LawTech.Asia team met with various speakers, exhibitors and attendees to learn more about the work that they do and their experience at the conference.

LawTech.Asia sat down for a chat with Yeong Zee Kin, Assistant Chief Executive of the Infocomm Media Development Authority (IMDA) and Deputy Commissioner of the Personal Data Protection Commission (PDPC). Zee Kin was a panelist on the Smart Regulation for a Smart Nation panel and the chairperson of the Legal Issues in Legal Tech panel.

Having participated in two panels over the course of TechLaw.Fest 2018, what were some of your key takeaways from the two panels that you were in?

Both panels revolved around the same theme but we approached it from different directions. The first panel (“Smart Regulation for a Smart Nation”) approached it from the perspective of the regulator and examined what kind of regulations are required. This panel focused more on potential regulatory models and discussed different perspectives of how regulatory sandboxes are used. The FinTech Regulatory Sandbox by the Monetary Authority of Singapore (MAS) is one such regime that allows for the ability to control license terms. There are some guidelines that we can potentially look to, such as the materiality test for determining when the risk becomes material and regulation should kick in.

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The Power and Pitfalls of Smart Contracts: A Recap

Written by Chelsea Chan | Edited by Amelia Chew & Irene Ng

LawTech.Asia had the privilege of being a media partner for TechLaw.Fest 2018. The inaugural TechLaw.Fest held from 4 to 6 April 2018 saw the convergence of legal professionals, technologists, entrepreneurs and policy makers, conversant and passionate about Technology Law and Legal Technology, coming together to discuss the future of Singapore’s technology scene. This article summarises one of the panel discussions held on 5 April 2018 titled “The Power and Pitfalls of Smart Contracts”.

The discussion was chaired by Joyce A. Tan (Joyce A. Tan & Partners); and the panel comprised of Ashton Addison (CEO and Founder, Eventchain.io), Sopnendu Mohanty (Chief Fintech Officer, Monetary Authority of Singapore), Hirofumi Aihara (General Manager of Digital Innovation, Mitsubishi UFJ Financial Group), Tomasz Kurcyzk (Digital Transformation Director, AXA Singapore) and Stella Cramer (APAC Head of Technology & Innovation, Norton Rose Fulbright).

After the introduction by Joyce Tan, Ashton Addison elaborated on the basics of a smart contract and potential technological pitfalls. A Smart Contract is an agreement converted into a small piece of software, which stores the rules and terms of the agreement and when met automatically executes exactly how it was coded. The appeal of a Smart Contract lies in its automation and that it is fully transparent, so the code reflecting contractual terms can be seen by anyone regardless of privity to contract. However, bugs in the code may lead to loss of funds. Further, large transactions are currently not possible since Ethereum can only handle 13 transactions per second, potentially creating a significant backlog if applied to current business transactions.

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UNCITRAL E-Commerce Law 2.0: Blockchain and Smart Contracts

Guest Post by Irene Ng

Irene Ng is a Fellow at the Stanford-Vienna Transatlantic Technology Law Forum and a Ph.D. Candidate at the University of Vienna. On March 17, 2018, Irene shared about how UNCITRAL e-commerce texts can interact with blockchain and smart contracts at the Computational Law & Blockchain Festival, Singapore Node. The following post is a summary of her presentation and answer to some queries that were asked.

1. What is UNCITRAL?

UNCITRAL stands for the United Nations Commission for International Trade Law. It is the main body of the United Nations that aims to promote trade amongst states through modernizing and harmonizing rules for international commerce. UNCITRAL has undertaken work in a wide range of commercial law issues, such as micro, small and medium enterprises (MSMEs), arbitration and conciliation, investor-state dispute settlement reform, electronic commerce, insolvency law, security interests and international sale of goods.

2. What are UNCITRAL E-Commerce Texts and how are they related to Singapore’s e-commerce laws?

In the field of e-commerce, UNCITRAL has released four texts in the last two decades or so. The first legislative text was the Model Law on Electronic Commerce (1996). Subsequently, UNCITRAL released the Model Law on Electronic Signatures (2001), the Electronic Communications Convention (2005), and, more recently, the Model Law on Electronic Transferable Records (2017). These texts intend to facilitate e-commerce transactions by establishing rules to allow the electronic equivalent of paper-based documents to be legally recognised, thereby removing obstacles encountered by the use of electronic means.

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TechLaw.Fest Quick Chats: Serena Lim, Bizibody

Interview by Audrey Koo and Eugene Tham | Edited by Jennifer Lim Wei Zhen

TechLaw.Fest 2018 will take place from 4 to 6 April 2018 in Singapore, bringing together the movers and shakers in the space of Technology Law and Legal Technology. In the lead-up to TechLaw.Fest, the LawTech.Asia team will be bringing to you regular interviews and shout-outs covering prominent speakers and the topics they will be speaking at TechLaw.Fest.

LawTech.Asia sat down for a chat with Serena Lim, Director at Bizibody Technology, Opus 2 International (Singapore) and Litigation Edge. Prior to founding Bizibody, she was the managing director of Khattar Wong & Partner’s Hong Kong Office. She is, inter alia, a specialist in practice management technologies, and is a consultant for discovery, litigation and court technologies.

At TechLaw.Fest 2018, Serena will be a panellist at the “Legal Tech Primer Session” at the Tech of Law Exchange. She will be introducing current legal research, document review and knowledge management tools.

What are some examples of legal secretarial work that are repetitive, and which your company has helped automated?

Two examples are (1) billings and (2) document preparation. These are areas of legal practice in which automation is possible and useful.

Let me illustrate what a law firm has to do without the aid of automation when issuing  bills or doing substantive legal work such as conveyancing, personal injury, debt collection and corporate secretarial work.

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TechLaw.Fest Quick Chats: Matt Pollins, CMS Singapore

Interview by Utsav Rakshit | Edited by Amelia Chew

TechLaw.Fest 2018 will take place from 4 to 6 April 2018 in Singapore, bringing together leading thinkers in the space of Technology Law and leading makers in the space of Legal Technology. In the lead-up to TechLaw.Fest, the LawTech.Asia team will bring you regular interviews and shout-outs covering prominent speakers and the topics they will be speaking at TechLaw.Fest.

This week, LawTech.Asia sat down for a chat with Matt Pollins, Partner at CMS Singapore and CMS “Innovation Champion”. He leads the Commercial and Technology, Media and Communications team. Matt will be speaking at the Tech of Law Exchange on the panel titled Deliberate Disruption: A Tale of Three Law Firm Tech Journeys.

What steps has CMS taken to embrace new technologies?

CMS has been investing in legal technology for the past 20 years. If you rewind to the 90s, CMS first started using platforms like document automation in our Real Estate and Finance practice groups.

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TechLaw.Fest Quick Chats: Cherilyn Tan, Asia Law Network

Interview by Amelia Chew & Wan Ding Yao | Edited by Josh Lee

TechLaw.Fest 2018 will take place from 4 to 6 April 2018 in Singapore, bringing together the movers and shakers in the space of Technology Law and Legal Technology. In the lead-up to TechLaw.Fest, the LawTech.Asia team will be bringing to you regular interviews and shout-outs covering prominent speakers and the topics they will be speaking at TechLaw.Fest. 

This week, LawTech.Asia sat down for a chat with Cherilyn Tan, Founder and CEO of Asia Law Network. Cherilyn will be conducting a Legal Tech Primer Session titled, “What works for you? Professional Networking, Client Management and Business Development Platforms”.

In your view, what goes into building a brand or a reputation?

Brand and reputation are two separate things. To build a brand is to be consistent in building and executing something. When it comes to building a reputation, it’s what you want that brand to represent. If you are consistently delivering the same mission, vision and values, then that goes towards your reputation. Your brand can be good or bad, depending on what you’re consistently doing, but your reputation is what you stand for.

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