TORONTO, Feb. 20, 2018 /CNW/ - Fasken is an initial member of the Legal Center of Excellence, launched by enterprise software firm R3, to educate and collaborate with the legal industry on blockchain technology and its blockchain platform Corda.
Members of the LCoE will collaborate, support and provide feedback on structuring networks and writing smart contracts used by Corda users. R3 has a network of over 200 financial institutions, regulators, professional services firms and technology companies that are developing on Corda. Other LCoE members include Ashurst and Clifford Chance.
"Smart contracts integrate business data and legal language for agreements fixed in law," said Robert Garmaise, Chief Innovation Officer at Fasken. "Having a solid understanding of smart contracts across different platforms will enable Fasken to implement them seamlessly for our clients."
"As a member of the LCoE, Fasken will have access to research that will provide insights to practical blockchain applications," said Will Shaw, Partner, Corporate Commercial Practice Group. "We can extrapolate best practices for the benefit of our clients."
At Fasken, we have a leading legal innovation practice advising clients across industries who are adopting blockchain and other technologies. We provide analysis, training and services to help clients get the most from these innovations. As a member of LCoE, we now have the opportunity to learn more about existing networks and platforms.
Corda is a blockchain platform designed to record, manage and automate legal agreements between businesses. These agreements take the form of smart contracts on Corda, linking business logic and data to associated legal prose in order to ensure they are rooted firmly in law.
Fasken is a leading international law firm with more than 700 lawyers and 10 offices on four continents. Clients rely on us for practical, innovative and cost-effective legal services. We solve the most complex business challenges, providing exceptional value and putting clients at the centre of all we do. For additional information, please visit our website at fasken.com.
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