Siam Legal Tech Center, Thailand’s only Legal Tech incubator, launches its first legal tech platform, the Siam Legal Alliance Blockchain Portal at the recent World Justice Forum at The Hague, The Netherlands.
The Hague (8 May 2019) — Siam Legal Tech Center, is a legal tech incubator led by a legal tech firm, Interchange Legal Co., Ltd. It is aiming to further promote and encourage innovation in the legal tech sector in Thailand. Fintech, the darling of innovation, has received a lot media and government attention over the past few years. However, the legal tech sector is now also fast gaining popularity in recent years with a 713% growth in 2018 alone in what is a global market worth USD$600 billion.
Kert Stavorn, a co-founder of the center and a legal technologist, revealed the blockchain based pilot project at the recent World Justice Forum at The Hague. The World Justice Forum is the premier international event for the rule of law. It brings together global and community leaders in the legal sectors in order to explore strategies, and develop solutions for advancing equity, opportunity and peace through the rule of law. The Siam Legal Tech Center was the only Thai legal tech representative invited to present their platform to the world as it aims to create new ways of delivering legal services to end users.
The Siam Legal Tech Center is focused on finding innovative solutions to the delivery of law in the future. Its work is focused on platforms which are at the intersection of law and technology. It’s CEO and co-founder, Mr. Haris Boonsop, a veteran lawyer and a technology academic, said that the center’s mission is to further the innovation in these targeted areas:
1) Platform economics by utilizing the tools that has been so successfully implemented in the on-demand and sharing economy around the word with platforms such as Uber and AirBnb;
2) Blockchain and Smart Contracts in how it can create more efficient and transparent ecosystems for various organizations;
3) Artificial Intelligence (AI) and machine learning and how it can be used to reduce unnecessary time spent on mundane tasks whereby lawyers can focus more on higher value and more people-centered tasks.
4) Robo-advisory platforms that aims to create greater access to justice to a wider community, including legal advice to sectors of the community who would normally have difficulty accessing justice;
Thailand 4.0 is well underway with startups in the country leading the way in innovative solutions that will not only transform the delivery of services in the legal field but also in finance, agriculture and the medical fields. Thailand also has the potential to scale the technology to other countries. According to Mr. Stavorn, Indonesia is a great example of a country in the ASEAN region that can collaborate with Thai startup communities.
“We met with many interesting people from Indonesia that are also very excited with the direction technology platforms are taking in their country.” Mr. Stavorn said. The country has a one of the highest populations in the region and many of them are enthusiastically embracing technology in their everyday lives.
“We also met with representatives from the African Legal Network, Africa’s oldest and most established legal alliance covering the entire continent and we believe the platform we are developing is transferable to their operation.” Mr. Boonsop said.
Siam Legal Tech Center hopes their participation in the World Justice Forum at the Hague will propel the legal tech community and give further boost to the legal tech sector in Thailand.
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Siam Legal Tech Center (SLTC) is a legal tech incubator headquartered in Bangkok, Thailand. It was established by a group of law firms that believed the future of legal service and its delivery will be transformed in the near future. The SLTC was set up to encourage startups, lawyers and technologists interested in legal tech to test their ideas. It is also a conduit to connect legal tech startups with investors as well as a place for like-minded individuals to connect and network.
World Justice Forum is the premier international event for the rule of law bringing together global leaders from an array of sectors and interests as they share insights, explore strategies and develop solutions for advancing peace, equity and opportunity. It is organized by the World Justice Project, headquartered in Washington DC. It is chaired by luminaries in the justice and legal field including Hon. Madeleine Albright, the first female US Secretary of State, Rev. Desmund Tutu and many others.
For further information, please contact:
Public and Investor Relations Department
Siam Legal Tech Center, Bangkok
Tel: 02 259 8100
Email: info@siamlegalalliance.com
