LONDON (PRWEB) December 15, 2022
Hunit, a British technology company, is pleased to announce that Jenifer Swallow has joined its mission as a key strategic advisor. Ms. Swallow is an award-winning General Counsel and legal innovator who established the UK government-backed initiative LawtechUK. Ms. Swallow joins the advisory team at Hunit for a critical part of its lifecycle, as it prepares for full platform launch.
Jenifer Swallow said, “I am delighted to be supporting Hunit as they come up to launch. When we wake up to the opportunity of smart legal contracts and have the ability to build them with ease, business at the operational level will look very different to how it does today. Take certificates of origin for vehicles or energy, or conditions precedent in M&A transactions – if these are self-executing based on set parameters and real-world, real-time data, we can be working with a level of immediacy, transparency and efficiency we can only imagine today. This holds real value for businesses at a time when cost savings, revenue generation and trust are at a premium.”
Aaron Powers, Hunit CEO, further commented, “We are very fortunate to have Ms. Swallow join forces with Hunit. She brings a wealth of experience, knowledge and network in both the private and public sectors while her background as General Counsel in multiple name-brand firms means that she is intimately familiar with the challenges that Smart Legal Contracts solve. We look forward to working closely with her.”
Hunit is a British technology company transforming commercial and financial markets by turning today’s static legal contracts into high performance business tools.
Hunit’s Web3 technology platform allows natural language agreements to be turned into ‘smart legal contracts’ or ‘SLCs’ that self-fulfil their agreed terms, interacting with counter parties and external systems in real time while generating legally certain records. This addresses the pain-points of current corporate contracting by stripping out manual inefficiency, human error, and siloed interaction, leading to better risk management, new business models and increased trust in business relationships.
While Hunit’s platform is agnostic to agreement type, customer use cases include self-completing conditions precedent in M&A transactions, self-managing credit facilities based on real time analysis of future receivables, and agreements that let assets such as commercial real estate or wind farms automate operations and offer themselves as investments.
Working with the Solicitors Regulation Authority, the UK Jurisdictional Taskforce’s Smarter Contracts programme, and a range of industry experts, Hunit has published defining analysis of how to use SLC technology under English law and jurisdiction. This has allowed Hunit to pioneer a uniquely compliant technology solution for the future of commercial and financial contracting. The company is supported by the UK Ministry of Justice’s LawtechUK program, Microsoft for Start-up’s Scale-Up accelerator, and the UK Dept. for International Trade’s Global Entrepreneur Programme.