ODI has joined the Global Legal Blockchain Consortium (GLBC), a group of industry stakeholders focused on enhancing the security, privacy, productivity, and interoperability of blockchain technology.
To date, more than 160 large companies, law firms, software companies, and law schools have joined the GLBC to help in developing standards and policies that govern the use of blockchain technology in the business of law. Specific issues on which the consortium focuses include data integrity, authenticity, security, and privacy for contracts and documents; interoperability between corporate legal departments and law firms; productivity improvements in the operation of legal departments and law firms; and augmentation of existing legal technology systems.
Gjorgji Georgievski, a partner in ODI’s Skopje office and the head of the firm’s Technology & Communications practice said: “Blockchain technology has the potential to redefine the way lawyers practice law. We are looking forward to joining the discussions with other members of the GLBC and exploring the possibilities to harness the capabilities of the blockchain in order to benefit our clients.”