Ford and Iagon test Cardano blockchain for legal data

Ford Motor Company and Iagon have teamed up with Cloud Court to develop a proof-of-concept (PoC) using decentralised ledger technology for storing legal data.

The companies announced the project on 18 June and will use Cardano's blockchain (ADA) to test a new decentralised solution for managing large legal documents.

Iagon said on X:

"Iagon, in collaboration with Cloud Court, is pleased to announce that Ford Motor Company will participate in this exploratory project as a consultant, with the objective of evaluating the use of Cardano blockchain and Iagon's decentralised cloud storage technology as a potential solution for the management and secure storage of legal documents and data."

According to the companies involved, the initiative aims to solve some of the problems faced by legal departments and law firms, such as the need to store, protect and organise large amounts of legal documentation.
Legal teams are responsible for archiving and organising depositions, hearing transcripts and confidential files. The problem is that traditional data management systems are often inadequate: documents are scattered, difficult to find and not always secure.

Hybrid architecture for legal documents

The proof-of-concept will have a hybrid architecture: legal data will be encrypted and stored off-chain, while Cardano's blockchain will provide access control, audit logs and data integrity assurance.

This approach will offer several advantages:

• More data security through encryption and access control based on blockchain
• Reduction of fragmentation with centralised access to legal documents
• Transparent traceability to know who has accessed or edited documents
• Easier collaboration between in-house legal teams

Iagon and Cloud Court believe this approach could become the new standard for the use of blockchain and artificial intelligence in the legal industry and other sectors.

In particular, the PoC is designed to show how the technology can be used in high-volume industries with stringent regulatory requirements, such as legal, healthcare, finance and public administration.

Ford will participate as a consultant in the PoC to test the platform at enterprise scale. Ford's status as a major Fortune 500 company will lend credibility to the project and could incentivise other companies to adopt blockchain-based LegalTech solutions.

The news pushed up Iagon's IAG token, which at the time of writing was up 11 per cent at $0.1664. Cardano's ADA token, on the other hand, lost 3%, dropping to $0.59843, according to CryptoSlate data.

The adoption of blockchain to store legal data securely and efficiently could pave the way for wider use of decentralised technologies in the corporate world.