R3 to enhance cooperation by launching LCoE: The blockchain coalition (R3) has opened the legal center of excellence (LCoE) in order to apprise the legal community about the nuances of the blockchain technology.
In this center the professionals were briefed about different technologies such as distributed ledger technologies and Corda platform.
About 10 firms participated in the initiative and these are: Ashurst, Baker McKenzie, Clifford Chance, Crowell & Moring, Fasken, Holland & Knight, Perkins Coie, Shearman & Sterling, and Stroock.
The members of this center will have access to the latest blockchain research and related workshops.
Further, demos and workshops on Contra platform of R3 are also available to the members, where they will be educated about the intricacies of smart contracts.
The smart contract is formed by linking the legal prose, business logic with blockchain platform of Contra. This is all executed with minimal human intervention.
Thus, these measures aim to enable legal professionals to better consult their clients about the blockchain technologies and the use of contra platform in formulating smart contracts.
Such measures are similar to those launched by Enterprise Ethereum Alliance.