Blockchain for Law: a new private network
Founded in April by Stevie Ghiassi (pictured), CEO of Legaler and president of the Australian Legal Technology Association, ’Blockchain for Law’ is a new private network of verified lawyers from around the world dedicated to exploring the intersection of blockchain and the law.
As blockchain technology challenges everything from banking and financial systems, the role of governments, healthcare and personal data, the infrastructure of the internet and existing business models, lawyers are left questioning what role they will play in intermediating these new advancements. Even the most trusted commodity of a lawyer, the contract, is being completely reimagined by blockchain technology in the form of smart legal contracts: self-executing agreements that are expressed in lines of code.
With blockchain gathering momentum, Ghiassi said: “It is imperative that the legal industry has somewhere to share knowledge, explore ideas and discuss the regulatory landscape, with a sharp focus on the implications around law. Highlighting the growing interest in distributed ledger technology within the legal realm, the network received over 1000 applications in the first week from all corners of the world.”
In the spirit of decentralisation and self-organisation, lawyers from the Blockchain for Law network put together a crowdsourced document outlining the regulatory framework for cryptocurrencies and blockchain technology for their respective countries, creating a valuable resource and covering many corners of the globe. Members also receive a regular digest highlighting key news, regulatory developments and global events. With many industry thought leaders active in the network, it has also become a place to share blogs, thesis papers, panel webinars and upcoming projects.
Blockchain for Law has processed 650 lawyers and has another 800 applications to get through.
Earlier this year, Ghiassi’s legal tech startup Legaler announced it would be building a blockchain designed for the legal industry, with the first decentralised application being Legaler Aid, a crowdfunding platform that will allow the disadvantaged to access legal services through tax-deductible donations as well as match lawyers with pro bono work, in an effort to help serve the four billion people that without access to justice according to the United Nations. As a further part of the ecosystem, Legaler will also be building the world’s first decentralised global legal network, which will become the new home for the Blockchain for Law community.
Interested lawyers can apply to join at http://blockchainfor.law
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