K&L Gates becomes one of the first major law firms to implement its own private distributed ledger platform.
Global legal firm K&L Gates has undertaken plans to establish an internal, private and permissioned blockchain to assist in the exploration, creation, and implementation of smart contracts and other technology applications for future client use.
The company plans to utilize identity, asset, and encryption modules from U.K./Swedish technology company Chainvine in order to allow its lawyers and IT staff to explore and create intelligent contracts.
Significant Impact
The first stage of the initiative will be a sandbox that will allow the firms lawyers from around the world to get direct experience working with blockchain applications.
The final step in K&L Gates’ blockchain adoption will be to create an internal private permissioned distributed ledger platform, a commitment that few other major law firms have made.
«By investing in this technology that is expected to significantly impact the practice of law, K&L Gates is committed to finding practical and timely solutions that benefit both our clients and the firm,» said James Segerdahl global managing partner at K&L Gates.
