Wolters Kluwer Legal & Regulatory has announced plans to become an early member of the Global Legal Blockchain Consortium. The consortium is aligning stakeholders from across the legal industry to work on developing standards and governance for the use of blockchain technology to enhance the security, privacy, productivity and interoperability for global legal technology.
Founding members include major law firms, corporations and technology service providers, such as Integra Ledger.
“Wolters Kluwer has long been known for deep domain expertise and our commitment to investment in technology innovation in legal markets worldwide,” said Stacey Caywood, CEO, Wolters Kluwer Legal & Regulatory. “Collaborating with legal practitioners, educators and other technology leaders further extends the value we will deliver to our customers.”
“We are excited to have Wolters Kluwer involved in the Global Legal Blockchain Consortium,” said David Fisher, a Director and Founder of the Global Legal Blockchain Consortium. “The technology expertise and insights Wolters Kluwer has in delivering solutions to legal customers operating in dozens of countries and thousands of jurisdictions across the globe will be a significant asset as we undertake the consortium’s formative activities.”
“Blockchain has the potential to become an important platform for digital transformation for the legal profession, as it enables the removal of human error and potential fraud in maintaining, updating, reviewing and verifying legal documents and agreements,” said Nita Sanger, head of Innovation for Wolters Kluwer Legal & Regulatory. “The Global Legal Blockchain Consortium offers leadership and guidance from across the industry to help ensure these advantages can be realized in the legal community worldwide.”
Blockchain is a distributed digital ledger of encrypted transactions, or blocks of data, running across millions of devices connected via distributed networks. Once a transaction is validated, data in a blockchain is resistant to alteration, hacking or deletion.
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