LawTech.Asia

Asia's Leading Law & Technology Review

Category: Smart Contracts

A brief analysis of the legal validity of smart contracts in Singapore

Reading time: 13 minutes

Written by Louis Lau | Mentored by Josh Lee | Edited by Lim How Khang and Josh Lee

LawTech.Asia is proud to conclude the first run of its Inaugural Associate Author Programme by publishing the works of its Associate Authors. The aim of the Associate Authorship Programme was to develop the knowledge and exposure of student writers in the domains of law and technology, while providing them with mentorship from LawTech.Asia’s writers and tailored guidance from a well-respected industry mentor.

This first run of the Associate Author Programme was a partnership between LawTech.Asia and Singapore Management University’s Legal Innovation and Technology Club. After a thorough selection process, two students were selected as Associate Authors, where they worked on thought pieces with a mentor from LawTech.Asia. Their pieces were each industry-reviewed by a respected thought leader from the legal technology industry.

This piece by Louis Lau, reviewed by industry reviewer Lim How Khang (Assistant Professor at the Singapore Management University), marks the first thought piece in this series, and provides an analysis on the legal validity of smart contracts in Singapore.

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Legal Technology in Singapore: Second Edition

Reading time: 2 minutes

Written by Cai Xiaohan, Tristan Koh, Utsav Rakshit | Edited by Josh Lee Kok Thong

In October 2018, LawTech.Asia published the first-ever detailed outline of the legal technology sector in Singapore. It was 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. The article was imagined as a “living document” that will continue to be updated as more news comes to the fore.

Much has happened in the legal tech scene in Singapore since then. To encapsulate these developments, LawTech.Asia is proud to present the second edition of “Legal Technology in Singapore”.

Our first edition had argued that Singapore is currently in the midst of a “legal tech revolution”, which began sometime in 2015 and which was spearheaded by the government in Singapore. The past year has seen the government invest even more resources into new initiatives to support legal tech adoption, and this edition of our article has been updated to include the following new developments: 

  1. Recent statements by the Judiciary on legal tech in Singapore;
  2. New assistance schemes to support the adoption of technology in Singapore, such as:
    • Asia’s first legal tech accelerator, GLIDE by FLIP;
    • Tech-celerate for Law by the Law Society of Singapore, which will fund legal tech adoption by law firms;
    • Advancement of legal tech in the State Courts;
    • The establishment of the SmartLaw Guild;
  3. The new creation of legal tech office-holders in public sector institutions; and
  4. The development of tech-related curricula in local law schools.

In this second edition, we also posit that the Singapore legal tech revolution has entered into a new phase: new ground-up initiatives in the legal profession to support legal tech adoption. We suggest that more law firms, law students, and legal tech solution providers have started their own initiatives to encourage legal tech adoption. This new edition of our article covers, in particular, the law firms which have championed legal tech adoption by being early adopters, producing their own technology, or launching their own legal tech incubators / accelerators.

In our first edition of the article, we had also outlined three forces influencing the development of Singapore’s legal tech revolution: the liberalisation and internationalisation of Singapore’s legal industry; the increasing sophistication of clients; and increasing technological capability. In this second edition, we introduce a fourth influence: the progressive changes in Singapore substantive laws. We argue that, as Singapore’s lawmakers introduce progressive laws which encourage, rather than inhibit, legal tech growth, this would also shape the course of the legal tech revolution for the better. Laws discussed include the passing of the Payment Services Act 2019 as well as the proposed amendments to the Electronic Transactions Act.

To access the updated version of the article, “Legal Technology in Singapore”, click here!

As before, 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.

Legal Hackers APAC Summit 2018 – A Summary

Reading time: 7 minutes

Written by Cai Xiaohan | Edited by Josh Lee

From 16-17 November 2018, LawTech.Asia co-organised the Legal Hackers APAC Summit together with SG Legal Hackers and the Singapore Academy of Law. This saw over twenty Legal Hackers chapter organizers from at least ten different countries in the Asia-Pacific region converge in Singapore to discuss the latest developments in law, technology and innovation in the APAC region.

The APAC Legal Hackers Summit 2018 welcome page. (Image credit: Legal Hackers Singapore)

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Legal Technology in Singapore

Reading time: 1 minute

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

Reading time: 3 minutes

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)

Reading time: 3 minutes

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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2018 UNCITRAL Emergence Conference

Reading time: 5 minutes

Interview by Amelia Chew & Ng Sock Cheng | Edited by Irene Ng

Interview with Luca Castellani, Secretary of the United Nations Commission on International Trade Law (UNCITRAL) Working Group IV (Electronic Commerce)1

The Emergence Conference 2018, jointly hosted by the UNCITRAL Regional Centre for Asia and the Pacific and the Asian Business Law Institute (ABLI), took place on 25 July 2018 in Singapore.

The conference took stock of emerging global and regional developments relating to the harmonization and convergence of international trade and commercial law, with a focus on their impact on regionalisation, especially for Asia. It provided a platform for experts and scholars to examine the impact of these developments and to consider various areas of political interest for UNCITRAL and ABLI from a regional perspective.

We sat down with for a chat with Luca Castellani, a legal officer in the Secretariat of the UNCITRAL, where he discharges the functions of secretary of UNCITRAL Working Group IV (Electronic Commerce) and promotes the adoption and uniform interpretation of UNCITRAL texts relating to sale of goods and electronic commerce.

What are your views on the discussions held at the Emergence Conference today?

This is the third such conference we’ve had and the first of its kind in Singapore. The goal of this conference is to elicit new views on different aspects of international trade law and international business transaction laws. I find it very interesting and particularly useful that many of the presentations are related to current developments in business and law. These presentations are welcome as they are not mere speculations and have practical application in the real world.

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