Blockchain’s increasing presence in financial technology is well-documented, but for the most part, attorneys have been watching rather than shaping the technology’s development. At the 2017 ILTACON conference , a group of attorneys and legal organizations announced the formation of the Global Legal Blockchain Consortium, a group proposing to address technology standards and industry adoption within the legal industry.
The group aims to set standards around the interoperability and security of blockchain systems in the legal space. More specifically, the group hopes to establish universal blockchain-based identities for both users and matters using blockchain’s trust infrastructure.
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