ConsenSys Sets Blockchain for Legal Pacts

Announcements, Blockchain | July 27, 2017 By:

New York-based blockchain specialist ConsenSys has introduced a new blockchain protocol to help lawyers create and execute legal agreements.

Called OpenLaw, the new blockchain protocol will allow professionals to automatically create and manage the execution of legal documents, and, if desired, embed ethereum-based smart contracts into legal agreements.

OpenLaw aims to make it easy to create legal agreements by use of templates capable of being manipulated with an “Authorized Markup” language. The language enables anybody to wrap logic and other contextual info all around conventional legal prose. This gets rid of monotonous techniques, which can preserve time and cash.

The OpenLaw blockchain protocol is designed to integrate executable distributed code contracts (EDCCs) with digitally signed legal agreements.

In addition, ConsenSys is also launching the first cohort of its ConsenSys Academy Developer Program on August 1. The ConsenSys Academy Developer Program is a first-of-its-kind, end-to-end blockchain training program.

The program has received over 1,300 applicants from a global pool of 95 countries during its two-month application window. Resumes received included a wide range of expertise, including data scientists, PhD students, and CEOs.