BNP Paribas Works With Blockchain Startup to Open Source Law
The complex and fragmented legal arena could use some standardization, at least according to 35-year veteran lawyer, Jim Hazard, the founder of blockchain smart contracts startup, CommonAccord. CommonAccord, which was recently selected by BNP Paribas' new FinTech accelerator, L’Atelier, is developing global text codes for transferring legal documents via distributed ledgers. The idea first came about in the 1990s when Hazard was trying to automate legal processes using Microsoft Word during the development of Linux, one of the most prominent examples of free and open source software....
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Writing onQuintessence, the financial magazine of BNP Paribas, financial securities research analyst Johann Palychata analyzes the possible impact and future implications of the blockchain for securities markets. He believes that Bitcoin is really an innovation and a disruptive open-source technology for the financial world. "Its core is the first successful attempt for a secure and decentralized register," says Palychata. "It should be considered as an invention like the steam or combustion engine. ". BNP Paribas, a French bank headquartered in Paris that was formed through the merger of....
CommonAccord, a blockchain-based startup for legal documentation, is one of eight startups selected for BNP Paribas' new FinTech accelerator, L’Atelier. CommonAccord’s goal is to create global codes for transferring legal documents like contracts, consents and permits. The startup wants to develop a distributed network of participants that synchronizes files with each other, using blockchain, GitHub or email transfer. According to CommonAccord, however, blockchain is particularly important for it’s ability to automate routine functions using smart contracts and provide an immutable ledger....
Shanghai-based blockchain startup Antshares has raised over $4.5 million a crowdsale, enabling it to complete the first ever open-source blockchain project in China. Antshares Blockchain, an open-source blockchain project has raised over $4.5 million in a crowd sale. The funds will see the startup complete the development of its blockchain platform under what it deems as an “Onchain universal blockchain” framework. Adopters will see the platform enable them to digitize, record and track physical goods and assets. The open-source blockchain will be scalable across several industries,....
BNP Paribas and the Bank of Ireland have started trial runs for their respective blockchain applications. BNP Paribas has partnered with a crowdfunding platform, Smart Angels for the same. The banking sector is finally making some headway with their exploration of blockchain technology. Soon after UBS and Deutsche Bank made an announcement about the success of their blockchain technology experiment, two more international banks have now come up with their own solutions and testing them out. The French banking firm, BNP Paribas and the Bank of Ireland are the duo who have brought their....
Bitcoin continues to push deeper into mainstream currency trading with BNP Paribas, France's largest bank. The bank is testing bitcoin for one of its currency funds, according to International Business Times UK. A source at BNP Paribas told IBTimes UK the bank has been "beta testing" crypotocurrency with one of the bank's currency funds in Paris and will make an announcement about it shortly. Spokesperson Cites Block Chain Technology. "We are looking at blockchain technology and how it can be applied to post trade processes to make things faster and potentially cheaper but it's all very....