blockchain to revolutionize the global legal infrastructure

Ripple saw the potential of the blockchain and did everything to explore this emerging technology. To do this, a few years ago, Ripple founded the UBRI, the University Blockchain Research Initiative which, in collaboration with other universities, aims to provide education on production chains. This year Australian National University Faculty of Law (ANU) has launched a program with the specialty of blockchain applicable.

Blockchain and law: Ripple sets the stage for legal progress

The blockchain law course which was taught in association with the RBRI, will teach students the influence of blockchain technology in the legal industry. The program would be directed by Scott Chamberlain in collaboration with Lauren Weymouth and Richard Holland. In addition to exploring the influence of global chain technology, students will need to familiarize themselves with legal issues related to contracts and technology. They will also look at how blockchains and others emerging technologies can be used to automate laws.

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According to Mr. Chamberlain, students who take the course will be able to develop their own white papers. Part of the project, called Lex Automagica, has been in play since 2018, when Mr. Chamberlain joined UBRI. To support this program, UBRI donated $ 1 million to Chamberlain to work on Lex Automagica and other implementations of blockchain technology in the legal industry. UBRI, in particular withBerkeley University, one of the first universities to explore the application of blockchain technology in the legal field, but it is not the only one.

Ripple University is considering the potential of blockchain technology to simplify many complex processes in the current legal system. Chamberlain said:

” For example, imagine a world in which legal disputes could be resolved without having to go to court? This could be achieved through the advancement of smart contracts, which the ANU and other law schools with which we work in partnership – such as UPenn Law, Rutgers Law and Berkeley Law – are examining, alongside policy and regulation“.

For its part, Lauren Weymouth of UBRI said that the program ” first linked up with Scott in May 2018, when he contacted Ripple's business development department to start discussions about a university that was developing legal applications for the XRP ledger using Codius. ANU is one of the few partners to conduct research on the application of blockchain in law, so we look forward to seeing their progress materialize to help resolve the painful points that exist in legal processes today. today“.

Ripple University is working to expand its reach

Until now, 35 universities have joined UBRI, but this is just the beginning. Ripple always intends to obtain new partners and to contribute more to the financing of the programs. As long as universities are ready to use the money for blockchain research, they will receive the necessary funding from UBRI. Over time, as Weymouth indicates, UBRI seeks to expand its global footprint, noting the partnerships that began in 2019 with the University of Kyoto and the University of Tokyo in Japan, as well as National University of Singapore. In the future, the institution hopes to partner with other universities in Thailand, Peru, Abu Dhabi, South Africa and Canada.