A contract is an agreement (written or spoken), that is intended to be enforceable by law. Since the beginning of time, contracts have been used for various purposes, including for matters of employment, sale of goods, and tenancy. In recent times, the legal profession has played an integral role in facilitating the drafting and execution of these contracts.
I'm a lawyer. People don't tend to like us lawyers very much, but they put up with us (for now). We can help you with contracts!
Blockchain, however, with its infinite possibilities, is challenging the conventional norms of the legal profession. The question arises, how much longer will we (lawyers) be needed? We cannot be blind to the fact that alternatives to us are beginning to appear.
BlockCAT is one example. Using the Ethereum blockchain, BlockCAT furnishes anyone with the ability to create and use smart contracts for pretty much any everyday use. You don't need to be a programmer and more importantly, you don't need a lawyer! As the project itself so aptly puts it - "Complete strangers can buy and sell goods without relying on blind trust or a third party for verification and security".
But BlockCAT takes matters a step further! The project provides you with the opportunity to sell your custom made contacts on a decentralized marketplace, so that others can use them without having to "draft" their own contracts.
Personally, I hope that society will continue to look for human interaction as an element of the legal service (and that way I didn't study law for nothing!). Furthemore, law admittedly spans far wider than just contractual law and therefore lawyers will continue to be needed for more complicated matters (for now). However, like in the case of many other professions, Blockchain is here to stay and here to disrupt our norms. If this is what the system looks like in its infancy, the chances of a total upheaval of the legal fraternity is likely. That is why we need to adapt to it.
Take a look - https://blockcat.io
