Sharon Nelson and John Simek’s article, “The Blockbuster That is Blockchain: What it Means to the Practice of Law” was featured recently in Slaw Magazine. Slaw is a Canadian online legal magazine.
Excerpt: On August 15th, a group of law firms and technology companies announced the formation of the Global Legal Blockchain Consortium. The consortium will work to drive the adoption and standardization of blockchain in the legal industry, with the larger goal of improving the security and interoperability of the global legal technology ecosystem.
As noted in an Above the Law post by our friend Bob Ambrogi, members of the consortium include the law firms Baker Hostetler and Orrick, IBM Watson Legal, and the newly formed company Integra Ledger, which hopes to become the ledger used throughout the legal industry for blockchain digital identities.
The consortium’s three goals for the future of blockchain in legal:
- An interoperable and secure global legal industry using blockchain technology
- Agnostic as to software, agnostic as to document management systems, and agnostic as to blockchain
- Universal, blockchain-based identities for law – client identity, matter identity, document identity