Pandemic Has Caused A “Transform Or Die” Situation For Traditional Industries
11 Nov 2020 — The current pandemic that caused the worst economic crisis has hastened the increasing of digital disruption which led to many businesses and industries folding.
It’s a “transform or die” situation especially for traditional industries where business transformation is no longer an option.
Banking, the once most sought after industry is now facing its greatest challenge yet. Most are feeling the pressure of business sustainability and looking at new ventures that may be the beacon of light for their future business success. A recent example is DBS Bank, with its plans for #crypto currency exchange.
In 2008, Richard Susskind, President of Society for Computers and Law, predicted a future in which the legal profession as we know it will no longer exists. To ensure the legal profession surviving and thriving in the future, it has to adapt and find new ways to help clients access justice.
DLA Piper is a success story where they deliver solutions beyond traditional legal services to help businesses succeed. Together with Aldersgate DLS, they launched a unique tokenisation engine ‘TOKO’ – a fast, secure and cost-effective solution for buying and selling high-value assets using #blockchain technology, and tokenized its first piece of artwork by Chinese artist Wang Xiao Bo.