Piper Alderman makes history as “the first legal firm in Australia” to use Lygon, a blockchain-based platform that streamlines paper-based payment guarantees. This breakthrough will help the legal firm “enjoy greater efficiency and security over guarantees.”
First-to-market blockchain-based platform Lygon has announced it has "minted its first industry standardised digital bank guarantee, representing a significant breakthrough for blockchain-based companies globally", with Lygon a joint venture between ANZ, Westpac, Commonwealth Bank, Scentre Group and IBM.
Three of Australia's big four banks have joined IBM and the Scentre Group - which looks after Westfield's properties - to launch a digital platform named Lygon which uses blockchain technology to manage bank guarantees that are often needed to lease a retail properly.
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