The Center for Law, Science & Innovation (CLSI) at the Sandra Day O’Connor College of Law at Arizona State University has announced that they will be joining the Global Legal Blockchain Consortium along with more than 75 organizations, universities, law firms, and businesses. CLSI will work with the consortium on developing standards and governance structures for the use of blockchain technology in the legal industry.
“The Center for Law, Science & Innovation has been advancing law and policy in science and emerging technology for over 30 years. This year we will offer one of the first courses on blockchain law in the country. We also lead and collaborate on important research projects and conversations with legislators, regulators, and blockchain entrepreneurs both here in Arizona and across the country,” said Gary Marchant, ASU Law professor and CLSI faculty director. “CLSI is excited to explore soft law approaches to regulate and foster the development of blockchain applications for the legal industry. Working with the consortium is a natural fit for us, and we are delighted to play a part in its formative stages.”
The consortium brings key stakeholders together to create standards for the development and implementation of blockchain technology for the legal industry with a focus on enhancing the security, privacy, productivity, and interoperability of the legal technology ecosystem.
Blockchain has the potential to become a foundational technology underlying international supply chains, personal identification systems, secure voting applications, revolutionized energy markets, secure sharing of health systems data, and the delivery of legal services. Blockchain may change the way lawyers do business and practice law in almost every area.