The Accord Project, the legal industry body for smart legal contracts, and R3, an enterprise software provider, have announced a technology partnership.
The partnership is set to develop support for Corda, R3’s blockchain platform, in the open source legal layer incubated by the Accord Project.
Corda is the latest blockchain technology to be supported by the Accord Project open source middleware layer, which also supports Hyperledger Fabric and Ethereum.
The project aims to establish techno-standards for smart legal contracts and develop a blockchain-agnostic middleware layer that is interoperable with any distributed ledger or technology platform.
R3 will also partner with Clause, a legal tech startup, to build a bridge layer that will allow users to manage contracts on Clause whilst seamlessly recording contract states on Corda.
Clause has deployed a version of the Accord Project technology for contract lifecycle management that allows users to execute contracts and view contract analytics.
Peter Hunn, of the Accord Project, commented: “We are delighted that we are expanding support for the leading distributed ledger and blockchain technologies with Corda.”
“This partnership with further reinforces our middleware layer as the standard for smart legal contracts and for usage in the legal industry.”
David Rutter, CEO of R3, said: “Smart contracts are a critical underpinning of blockchain technology and it is important that we have standardisation and interoperability across the board.”
“We look forward to working with the Accord Project to ensure Corda is fully integrated with its open source legal layer.”
