The
Wall Street Blockchain Alliance (WSBA), a non-profit trade association whose aim is to guide blockchain adoption by financial markets, has joined the Accord Project.
The
Accord Project’s focus is not on smart contracts, which may not be legally binding, but smart legal contracts, which are. The Project aims to create standards for these smart legal contracts and already boasts members from across the legal and technology industries. More than 40 leading legal firms are partners, and the standards are designed to work with major blockchain technologies such as Ethereum, Hyperledger Fabric, and R3’s Corda.
Together the two organisations will identify use cases for smart legal contracts and develop code and best practices for them within the financial services industry.
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