{"id":13593,"date":"2019-04-16T00:00:00","date_gmt":"2019-04-16T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2019\/04\/16\/northern-trust-deploys-legal-clauses-as-smart-contracts-on-blockchain\/"},"modified":"2019-04-16T00:00:00","modified_gmt":"2019-04-16T00:00:00","slug":"northern-trust-deploys-legal-clauses-as-smart-contracts-on-blockchain","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/northern-trust-deploys-legal-clauses-as-smart-contracts-on-blockchain\/","title":{"rendered":"Northern Trust Deploys Legal Clauses as Smart Contracts on Blockchain"},"content":{"rendered":"
Just recently, Northern Trust<\/a><\/strong>, a leading provider of asset management, asset servicing, wealth management and banking to various industries, announced its capability to deploy legal clauses as smart contracts directly from a digital agreement onto its private equity blockchain.<\/p>\n Pete Cherecwich<\/strong>, president of Corporate & Institutional Services at Northern Trust commented that;<\/p>\n \u201cAs financial markets move towards digital processes, Northern Trust will continue to drive the technology innovation that will redefine our industry. The collaboration and innovation that led to this further breakthrough in blockchain technology is a testament to all parties involved. The ability to leverage digital documents that include smart contract code across multiple platforms is a very significant step toward the future digital environment of securities servicing.\u201d<\/em><\/p>\n <\/a><\/p>\n Developed by Avvoka<\/strong>, a legal technology startup, the software was originally deployed for Emerald Technology Ventures<\/strong> with an aim to allow users to negotiate, review and also digitally sign legal agreements. Northern Trust launched the first commercial blockchain solution for private equity<\/a><\/strong> and fund administration about two years ago. In 2018, the platform got an awarded four U.S. patents for processes critical to move from manual to digital operations in private equity.<\/p>\nNorthern Trust\u2019s Achievements<\/b><\/h2>\n