Legal documents for regulations and documentation are necessary and in the modern world where every process is becoming more and more streamlined, so a modern adoption of tailor made legal documentation process is due, where the new technologies that can give a more stable and binding way to carry out legal documentation. Blockchain technology comes with such a feature where we can apply the opportunities made available by the use of smart contracts as a customized legal document. Doctailor will use the smart contracts on their platform for providing tailored legal contracts. It has been designed fro the simplification of the implementation of smart contract, reducing the time and cost for the concerned users.
GOALS AND FEATURES OF DOCTAILOR
Customized smart contracts will be made easily available while boosting the ease of developing, acquiring and distribution of the smart contracts. Payment options will be provided with the option to store both cryptocurrencies and fiat money. Can operate as P2P, B2C or B2B as deemed necessary by the user and platform.
THE BARRIERS TO WIDESPREAD ADOPTION OF BLOCKCHAIN TECHNOLOGY
People are still unaware of the undiscovered and many rewarding opportunities that the blockchain has brought with it. But people are still very sceptical about adopting a technology that people don't know about and can't trust. But people have accepting views regarding adopting certain aspects of blockchain like the smart contracts.
TAILORED MADE DOCUMENT CREATION PROCEDURE AND COSTS
Legal document creation is a very complex process which requires various factors to be included, a reform in this is provided by the doctailor platform with its 'intelligent clause' feature to automatically identify and highlight sections which might be needed to be amended to suit a particular purpose. Tests have shown that on the doctailor platform that smart contracts can be deployed on the ethereum blockchain in 14 seconds at the very least.
The only hindrance that the doctailor would face is the lack of widespread information, experience, and doubts regarding the technology.
Doctailor has various advantages while creating legal documents like clause selection, merging clauses, structuring a document. This is an audience-centric platform, which means it will have a restricted domain of audiences but the potential to be the most widespread accepted method in the coming future, lawyers and industries who need legal binding documents would greatly benefit from the many features it provides along with transparency, ease of tracking. The smart contract can enable the doctailor to be the frontrunners in exploiting a very key aspect of smart contracts to a great potential.
Website - http://www.doctailor.com/
Whitepaper - http://www.doctailor.com/assets/pdfs/whitepaper-en.pdf
ANN - https://bitcointalk.org/index.php?topic=2893424
Telegram - https://t.me/joinchat/GZaHXQ-Bbr7xnrNmjX4zIA
Published by – dannywhalen
Bountyhive : bountyhive.io/r/dannywhelan
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This will make the things simple to create smart contracts