PwC Legal Switzerland joins the Global Legal Blockchain Consortium (GLBC) as the first leading Swiss law firm. More than 80 other law firms, legal technology vendors and service providers are participating in the GLBC.
What is the partnership about
The GLBC aligns legal industry stakeholders in their efforts to develop standards and governance for the use of blockchain technology to enhance the security, privacy, productivity and interoperability of global legal technology. 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.
With this partnership, PwC Legal Switzerland will continue to not only stay at the forefront of industry changing developments of blockchain for the legal sector, but also help actively shaping the future. We will continue to bring this expertise to our clients and by doing so help them to further succeed in the future.
The perfect storm of innovation and disruption
Dr Guenther Dobrauz, Partner and Leader PwC Legal Switzerland, and a member of PwC’s Global Legal Leadership Team, comments as follows: “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.”
Blockchain is a distributed digital ledger of encrypted transactions, or blocks of data, running across millions of devices connected via distributed networks. Once a transaction is validated, data in a blockchain is resistant to alteration, hacking, or deletion. The GLBC is hosting its first GLBC Annual Meeting and Blockchain event in Washington, D.C., later this month, and will have dozens of demonstrations and presentations showcasing use cases for blockchain in the legal industry.