Fasken joins as founding member of Global Legal Blockchain Consortium
Top Canadian law firm Fasken has joined as one of the founding members of the Global Legal Blockchain Consortium (GLBC), the non-profit group positioned to lead standards and governance for the adoption of blockchain technology in the legal industry. Other members include BakerHostetler, IBM and Integra.
As part of the GLBC selection process, firms are required to submit examples of effective blockchain use in the business of law. GLBC members will serve on committees to develop policies for a permissions-based blockchain in law, and will administer control of all related privileges.
“We are thrilled to be one of the initial founding members of GLBC,” said Robert Garmaise, chief innovation officer at Fasken, which has 700 lawyers in 10 offices across four continents. “Examining blockchain technology in law, with our colleagues across law firms, technology companies and academia, will enable us to determine its most impactful benefits for our clients.”
As a member of GLBC, Fasken, which has a blockchain and cryptocurrency ‘taskforce’, will now have the opportunity to set criteria and oversee the best uses for blockchain globally in the legal industry.