Global law firm Linklaters announced it has joined the Accord Project, which seeks to bring together a consortium of legal and technology partners to help promote open standards around smart contracts.

Richard Hay, the UK head of fintech at Linklaters, said the firm was eager to join the consortium because it is looking to “instill in our lawyers a sense that this is a time of significant technological advance, and that some aspects of contracts that are currently written in prose may ultimately be written in some form of machine readable text.”