Legaler: The Latest Member Joining The Global Legal Blockchain Consortium
Legaler is the latest member joining The Global Legal Blockchain Consortium (GLBC) that now has more than 60 different organizations affiliated from a wide variety of sectors around the world.
The main intention is to implement blockchain technology in the legal field. This will lay down global standards and, at the same time, look into the future of the legal industry. The GLBC is an important initiative that brings together several firms that specialize in different topics and want to improve efficiency, privacy and interoperability in the legal space.
Stevie Ghiassi, CEO of Legaler is positive about the future of the technology and the work that is performing the GLBC.
About it, Mr. Ghiassi commented:
“As adoption of blockchain challenges traditional business model and existing internet infrastructure, it’s incumbent on the early participants to work together to establish global standards that encourage interoperability and best practices for the nascent technology, especially on how it relates to the law. GLBC is a positive step forward.”
At the moment, Legaler has been working in more than 80 countries with several firms. The company wants to integrate blockchain technology with their primary operations at a hand. Institutions are showing an increased interest for encrypted contracts. But of course, these are not the only benefits of distributed ledger technology (DLT).
Ghiassi explained that the most trusted commodity of a lawyer, the contract, are changing due to the fact that blockchain technology is revolutionizing the industry. Now we are talking about smart legal contracts, self-executing agreements that are expressed in lines of code. “Every stakeholder should be paying attention,” said Ghiassi.
It will be interesting to see how the legal industry will change the way in which it interacts with the latest technologies and trends in the world. Until now, there have been multiple benefits in several companies after embracing DLT.