New York, Jan. 16, 2019 (GLOBE NEWSWIRE) -- BX3 Capital, a business advisory firm serving clients in the blockchain and cryptocurrency sectors, is proud to announce its membership in the Global Legal Blockchain Consortium, an exclusive network of more than 175 law firms, higher educational institutions, and large companies looking to develop and set standards on the use of blockchain in the legal sector.
“BX3 is thrilled to be welcomed into the Global Legal Blockchain Consortium,” says Joseph “Jay” Arcata, Esq., vice president of client operations at BX3 Capital. “We are excited to play a role in the development of standards to govern the use of blockchain technology in the business of law. We are also enthusiastic to collaborate with GLBC members regarding BX3’s ongoing development of a blockchain-based platform aimed at delivering long-overdue efficiencies and cost savings to the legal industry.”
Key policy interests for the Global Legal Blockchain Consortium include data privacy and security, especially with regards to contracts, documents, and communications. Thanks to its decentralized network, blockchain is also particularly well suited as a platform to verify and authenticate legal documents. The group is also working to foster interoperability between in-house legal departments and law firms, as well as integrate blockchain technology into legacy IT systems to extend software’s use case and enhance productivity.
These issues are at the heart of many of BX3 Capital’s initiatives on behalf of its clientele. Onboarding and explaining the myriad use cases of blockchain and other cryptocurrency-related technology is part and parcel of BX3’s mission of being “builders and investors for the blockchain economy.” As BX3 continues to build out its in-house legal department, the company looks forward to connecting with like-minded industry colleagues.
“Each and every day, we see dynamic new use cases for blockchain technology,” says Mike Minihan, partner at BX3 Capital. “It is inevitable that aspects of blockchain-based transactions will need legal assistance, be it in the form of dispute resolution, privacy concerns, or otherwise. The role of the legal practitioner will change in this regard, too. For that reason, we are pleased to contribute to the Global Legal Blockchain Consortium to ensure we stay at the forefront of the discussion on legal standards applied to a blockchain-focused economy.”
About Global Legal Blockchain Consortium
The GLBC is comprised of more than 175 large companies, law firms, software companies, and universities that have joined together to develop standards to govern the use of blockchain technology in the business of law. The consortium focuses on a range of issues, including data integrity, authenticity, security, and privacy for contracts and documents, interoperability between corporate legal departments and law firms, and productivity improvements in the operation of legal departments and law firms. For more information about the GLBC, visit legalconsortium.org.
About BX3 Capital
We are passionate professionals with decades of combined experience in banking, marketing, accounting, finance, tax, and law, and use our expertise to provide the necessary tools and framework to turn ideas into successful businesses in the blockchain and cryptocurrency space. We believe that the disruption that blockchain technology enables will inevitably lead to increased pushback from regulatory bodies as they see bad actors and noncompliant parties continue to take advantage of the decentralized, pseudonymous nature of the industry. We exclusively work with clients and partners who reflect our core principles of collaboration, ethics, and transparency. BX3 is headquartered in New York, NY. More at bx3.io.