Linklaters has signed up to a new initiative aiming to bring together a consortium of legal and technology partners to help promote open standards around smart contracts.
Richard Hay, the UK head of fintech at Linklaters, said the firm was eager to join the initiative – dubbed the Accord Project – because it is looking to “instil in our lawyers a sense that this is a time of significant technological advance, and that some aspects of contracts that are currently written in prose may ultimately be written in some form of machine-readable text”.
