Dentons Canada LLP have released a press release saying the firm has now become a member of the Global Legal Blockchain Consortium (GLBC).
GLBC’s goal is to “organize and align the stakeholders in the global legal industry with regard to the use of blockchain technology to enhance the security, privacy, productivity and interoperability of the legal technology ecosystem.”
Other members of the organization include Integra Ledger, a technology company offering a blockchain solution for use by the legal industry, IBM Watson Legal, and U.S.-based law firms Baker & Hostetler LLP and Orrick, Herrington & Sutcliffe LLP.
“As the founding Canadian member of the consortium, we are continuing to demonstrate that Dentons is a leader in innovation in the legal industry,” said Beth Wilson, Dentons Canada chief executive officer. “We strive to develop the best solutions for our clients and our industry colleagues, and joining this network of organizations is another great step towards that goal.”
Integra’s technology is being promoted by the consortium as its preferred industry standard.
“We are excited to work with GLBC and Integra Ledger, which has been selected by GLBC as the first blockchain for law. This gives Dentons the infrastructure to develop unique technology and legal offerings, working in tandem with our clients,” said Andrea Johnson, partner at Dentons. “We see applications for distributed ledger applications across many legal domains and industries in which our clients are active.”
About Global Legal Blockchain Consortium
Standards and Governance of Blockchain in the Legal Industry
Without major intermediaries (cloud-based software, cloud-based document storage, etc.) to provide convenience and standards, it is necessary for industries themselves to band together to jointly develop standards and governance, thus the typically non-profit, consortium strategy.
The mission of the Global Legal Blockchain Consortium is to organize and align the stakeholders in the global legal industry with regard to the use of blockchain technology to enhance the security, privacy, productivity, and interoperability of the legal technology ecosystem.
In furtherance of its purpose, the GLBC, whether through the Board of Directors or the appropriate committee or advisory board, will adopt policies that promote a universal, blockchain-based technology infrastructure for law.