PwC Legal Switzerland has just announced it has joined the Global Legal Blockchain Consortium (GLBC). There are now more than 80 law firms, legal technology vendors and service providers that are participating in the GLBC.
The Big Four firm said that PwC Legal Switzerland has been exploring the impact of blockchain technology on various industries and ‘recognises the transformative potential of blockchain in the legal sector’.
The Swiss arm of PwC has been a relatively pioneering legal group recently. It is also one of the first legal businesses to place its own automated contracts on the PartnerVine market place, which allows companies to download Exari-based contract templates for a range of legal use cases for a relatively low cost.
The GLBC has had something of a growth spurt recently and seen the development of a series of practical use cases, including the involvement of Thomson Reuters and Wolters Kluwer (see story).
Dr Guenther Dobrauz, Partner and Leader PwC Legal Switzerland, and a member of PwC’s Global Legal Leadership Team, said: ‘The legal industry faces a perfect storm of innovation and disruption. What many see as a threat, we consider to be an exciting opportunity. It is our mission to build the law firm of the future – every day. Blockchain plays a central role in this. I personally believe that the future is decentralised!’
David Fisher of Integra Ledger and co-founder of the GLBC said: ‘The ‘G’ in GLBC really matters: we want participation to be truly global. I’m delighted that PwC Legal Switzerland is joining the consortium and to see so many organisations on a worldwide scale collaborating and guiding the advancement of blockchain technology in the area of law. We’re thrilled PwC Legal Switzerland is on board.’