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Project to make smart contracts mainstream grows, as top firms burnish tech credentials

Smart contracts in cross-border commerce moved a step closer to the mainstream this week when three City law firm giants joined a project that is seeking to create global legal standards for blockchain-backed transactions. We also report on firms’ technology training moves and a knowledge transfer partnership between a law firm and university.

April 10th, 2018 | No Comments »

First digital mortgage added to Land Register as blockchain conveyancer adopts AI

The first digital mortgage deed was entered into the Land Register today following collaboration and testing with Coventry Building Society and Enact Conveyancing. Meanwhile, an online property sales platform that uses the blockchain to record property transactions has adopted artificial intelligence in its auction process.

April 5th, 2018 | No Comments »

Legal input “needed after blockchain”, says fintech solicitor in wake of pioneering deal

Lawyers will be vital to high-end fintech deals even after blockchain transactions become mainstream, according to a solicitor at the forefront of innovating with cutting-edge technology. He was speaking after helping to secure a pioneering use of the distributed ledger to transfer financial securities.

March 7th, 2018 | No Comments »

Legal infrastructure behind blockchain contracts takes shape

The English lawyer behind a bid to provide legal backing to deals involving both the virtual world of blockchain and real world commerce, has forecast that in a decade most global trade will be governed by arbitration agreements coupled with smart contracts.

February 9th, 2018 | No Comments »

Online conveyancer claims blockchain-backed transaction first

An internet conveyancing platform last week completed what it claimed was the first property to be digitally exchanged online and moved instantly to a live blockchain. It reported the property – in Trowbridge, Wiltshire – went from initial marketing to a verified online exchange in just seven days.

October 10th, 2017 | 1 Comment »

Smart contracts market “on course to grow rapidly”

The market for blockchain-backed ‘smart contracts’ should grow quickly, according to a partner at a global law firm, who is already working with the emerging technology. Lee Bacon, a partner at Clyde & Co, made the prediction as his firm launched a consultancy aimed at advising insurers and other clients on them.

September 25th, 2017 | No Comments »

Innovation index suggests “more top UK law firms than US firms embracing AI”

Top UK law firms are ahead of their US counterparts in the use of artificial intelligence, an index of legal service delivery innovation has suggested. However, the creator of the Legal Services Innovation Index said it might just be that UK firms are “savvier about marketing this stuff to their clients”.

September 1st, 2017 | No Comments »

Kennedys creates new route to partnership for employees with ideas

City law firm Kennedys has launched what could become a new route to partnership for members of staff who can dream up ideas for tech products to help clients. Prototypes from the Ideas Lab will be developed in India, before returning home for completion.

July 28th, 2017 | No Comments »

Land Registry to trial blockchain-backed digital property transfer

HM Land Registry plans to live test a ‘Digital Street’ scheme which will enable the “almost instant” transfer of property ownership, backed by technology including blockchain – the secure distributed ledger underpinning the Bitcoin currency – it has emerged.

May 23rd, 2017 | No Comments »

Futurologist: AI-based future “means opportunities for lawyers”

Technology is transforming the world at a furious pace and artificial intelligence (AI) and the legal frameworks that will emerge from it and similar developments, offer “massive opportunities” for lawyers, according to a leading futurologist.

November 10th, 2016 | No Comments »