Miller Thomson is pleased to announce its membership with the prestigious Global Legal Blockchain Consortium (GLBC), whose mission “is to organize and align the stakeholders in the global legal industry with respect to the use of blockchain technology in order to enhance the security, privacy, productivity, and interoperability of the legal technology ecosystem.”
Bernard Blouin, Practice Chair of Miller Thomson’s Business Group commented that Miller Thomson is pleased to be among the first Canadian law firms to join new and founding members which include law firms, major corporations as well as service providers to the legal industry, not-for-profit organizations and educational institutions.
“Innovative companies are driving Canada’s economic engine and Miller Thomson lawyers are on the front lines to helping these fast growing businesses manage during a time where aspects of the law and its application are evolving just as quickly,” he explained. “The lawyers at Miller Thomson bring practical real time experience across a wide range of expertise required by businesses, investors and other stakeholders in this emerging sector that greatly benefits those currently navigating how best to do business in blockchain. It’s a competitive advantage we bring to the table to help our clients to lead in emerging markets like blockchain.”
Blockchain technology can be widely and creatively deployed to create and maintain distributed ledgers that make data, records and evidence readily available yet unchangeable. The possibilities around Blockchain technologies provide a fertile environment for innovation and disruption in virtually every area of business.
The underlying technology is complex, and the business and legal environments are rapidly changing to keep pace, posing new and unique legal challenges to businesses and developers. Innovations in financial services and business transactions such as the use of “smart” contracts, the ability to maintain secure digital identities to authenticate contracts and legal status as well as potential solutions to cyber security vulnerabilities are just few examples of its applications.
Our membership in the Global Legal Blockchain Consortium is paired with our wide-ranging technical and legal expertise in supporting entrepreneurs and businesses driving innovation. With the commencement of this strategic relationship, Miller Thomson lawyers are ready to contribute to the legal community and to assist Canadian businesses in many areas of law.