One of the best things about the emergence of the blockchain is how it can take expensive middlemen out of the picture. Removing gatekeepers and putting control back into individuals hands can bring the internet back to the promise it originally held.
The way that Argello has done this is to make it easy for any business, freelancer or contractor to make a customized smart contract to automate business logistics.
Making agreements that use machine reading also available to be read by humans that can be contractually binding is efficient and inexpensive.
No need for a lawyer or even a programmer to create these smart contracts.
Agrello provides an Artificial Intelligence counselor that will guide the clients through the creation of contacts and give them notifications on their legal rights and obligations.
How does Agrello work?
The Agrello Foundation has built their Dapp on the Ethereum blockchain and uses smart contracts.
By using Artificial Intelligence, a “counselor” guides the user through a series of processes to craft the agreement by providing them with the legal rights and obligations necessary for the contract to be legally binding.
The contract is then translated into a smart contract code, digitally signed and then stored on the blockchain. Since the smart contract is immutable and cannot be edited or changed in any way, it can be admitted into court proceedings. And it can also be read in plain language.
How can Agrello be used?
It can be used to create a Just in Time logistics delivery system by automating the contracts necessary along the way. Salary negotiations can be streamlined, government bureaucracy can be eradicated (in theory!) and sales agreements can all be done quickly and cheaply.
Agrello is an Estonian company and already the Estonian government is using this to create digitally signed documents to streamline their bureaucracy.
A huge benefit is also that it is borderless. Since it is in the form of a smart contract, it can be seen by everybody no matter where they are in the world. It’s trustless and transparent.
The native coin is called Delta and is based on the Ethereum ERC20 standard.
All the transactions on the platform will get put on a hash on the blockchain, so the DLT will be burnt to to do this. In addition, all the fees to create the contracts, digital signatures and the Know Your Customer services will need to be paid with the Delta coin.
Agrello also hopes to create a community of lawyers with verified legal accreditations who belong to bar associations of the jurisdiction associated with a specific contract template. These users will receive deposits of Delta to ensure that the templates they review are of the highest quality.
So many industries are being disrupted by the blockchain. It was only a matter of time before the lawyer sector followed suit.
The only thing missing at this point to become adopted by the masses in a mainstream way is the ubiquitous issue of scalability. As the Ethereum blockchain addresses that issue, we could see this taking off in a big way.