R3 to Open Blockchain Lawyers Training Centre

The Legal Center of Excellence will unite ten major law firms to help lawyers from all over the world study blockchain technology 
20 February 2018   1576

The blockchain consortium R3, consisting of more than 200 financial institutions, announced the creation of the Legal Center of Excellence (LCoE). The new platform will bring together ten major law firms to help lawyers from around the world examine the features of distributed registry technology and the ecosystem around it, CoinDesk reports.

The new organization will include companies such as

  • Crowell & Moring LLP,
  • Baker McKenzie,
  • Perkins Coie,
  • Ashurst,
  • Clifford Chance,
  • Fasken,
  • Holland & Knight,
  • Shearman,
  • Sterling and Stroock.

Program participants will work on new projects and periodically publish the results of their activities.

These are some of the last pieces that we need to ensure that folks, including our membership, get comfortable with using the technology. The idea is to help these folks actually get a practical understanding of what's going on in the blockchain space, what are the projects that we're working on and what are the benefits we're seeing.

Jason Rozovsky

Senior Counsel, R3

R3 has not yet disclosed the fee for the services of the center, but one of the main requirements is that the legal firms-candidates should work in at least one adjacent jurisdiction with the acting members of the consortium.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   108

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.