/biz/ - Business & Finance

How does the team at Clause, a key driver behind the smart contract consortium The Accord Project, find the hours in the day to get so much done?

Yesterday, Clause made their big public beta reveal (see story), which is a massive milestone in the history of this technology, and now just 24 hours later they’ve announced that Accord has attracted a host of additional leading law firms to be part of the ground-breaking group.

Clifford Chance , Perkins Coie, Steptoe & Johnson, Pinsent Masons, Allens, and Baker Donelson have all joined the rapidly expanding consortium, which already has a host of top firms involved (see pic below of some of the current and new members).

But does it matter that all these firms have joined?

Yes. Because the big challenge with smart contract tech is that it needs two, (or more like dozens), to tango.

While it makes no difference if firm ABC LLP makes use of an AI review tool all on its own, there is little use for a smart contract system that no one else on the planet wants to be a counter-party with.

Moreover, if smart contract tech is going to take off then you need lots of firms to use the same format – or at least a limited number of formats that everyone is happy to work with – given that these partly computable pieces of digital paper are going to be shared and sent around from place to place, from firm to firm and from lawyer to lawyer.

So, when a batch of leading law firms also join the fray, it matters. Looks like it’s been a big week for the team at Clause and Accord.

https://www.artificiallawyer.com/2018/09/27/smart-contract-org-accord-bags-clifford-chance-more/

you guys are alright... do go to chainlink tomorrow