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The Global Legal Blockchain Consortium (GLBC), an initiative focused on driving the adoption of blockchain in the legal industry, has added new members and has surpassed the 150-member milestone, Artificial Lawyer reported.
Founded in August 2017, GLBC comprises of large companies, law firms, software companies and universities that have teamed up to develop standards to govern the use of blockchain technology in the business of law. It focuses on a broad range of issues such as data integrity, authenticity, security, document privacy as well as interoperability between corporate legal departments and law firms.
Members include Nimble, Zunic Law Firm, Wolters Kluwer Legal & Regulatory, Fasken, BakerHostetler, BYU Law, the University of Oklahoma College of Law, Latham & Watkins, IBM, and many others. The recently joined members include Baker McKenzie, K&L Gates, Goodwin Procter, Pinsent Masons, and University of Florida
David Fisher, founder of GLBC and founder & CEO of Integra Ledger, told Artificial Lawyer that GLBC is one of the largest blockchain consortia of any type in the world in terms of established entity members (as opposed to individual users).
Underscoring the importance of AI data analysis tools for the future development of legal blockchain tech, he said:
“We believe that AI and blockchain technologies will combine in powerful ways that render both technologies more impactful for the legal industry.”
Integra Ledger is the first project of the GBLC. Currently based on the open source Hyperledger Fabric blockchain and hosted on IBM Blockchain Platform, it is a utility blockchain for confirming integrity and authenticity of legal data.
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