DocTailor – Self Customisable Smart Contracts & Legal Documents on the blockchain

IEO Active until, September 20th, 2019 On TOKOPIE

About

DocTailor is a platform that allows lawyers, organizations, or any party who wants to adjust the agreement, to put it on the blockchain with a smart contract, without any development support.

This platform works as a link between the cryptocurrency world and the real world, because of the many requests from this sector and the DocTailor platform also has many advantages. This platform is very smart and reliable.

Smart Legal Contract & Agreement Solutions:

1. What is a Digital Identity Smart Contract

Transaction data therefore includes an auditable record of the digital identity of every person who accesses the data. … Smart contracts allow transactions to be completed automatically once specific conditions are met, and they have use cases including digital payments, insurance contracts, and market trading that revert fees to the identity holder.

Overview

Today, different institutions hold different details about your life:

  • – bank records,
  • – ownership rights,
  • – job details,
  • – demographic facts, etc.

To collect all this information in one file, you would need to carry a huge pile of papers, references, copies. It’s pretty inconvenient, especially, if you have to pass an identity verification.

Whenever something happens to you, it would be registered on the blockchain to keep your identity holistic. Owing to this, KYC verification would become instant. And your privacy wouldn’t be affected as you are the one to Smart contracts solve this problem and allow to keep all the data on one person in one place.

2. What is a Financial & Banking Smart Contract

Financial & banking Smart contracts, in particular, are increasingly being seen as the future for record-keeping and transactions across a range of financial related industries. They can be are self-executing contracts that have the terms and conditions of the agreement written into their lines of code.

Overview

Don’t you feel annoyed when you’re trying to make a money transfer, and you need to cover a fee, pay a percentage of the sum you send, and then wait for a few days while the transaction is being processed? Even though the modern banking system works rather smoothly, its imperfections are hard to deny.

Smart contracts do not require any intermediaries.Hence, you pay no fees. As there’s no bureaucracy involved, transactions become fast and cheap. Moreover, the transparency guaranteed by the blockchain reduces the possible risks of fraud.

3. What is an Insurance Smart Contract

The insurance industry is an area which benefits greatly from this technology, an insurance smart contract is based on the premise of an agreement between a policyholder and an insurer. Records of an insurer can be held on the blockchain and recalled for insight over a period of time as set.

Overview

May you get into a minor car accident, the first thing you would worry about is an insurance payment. If the accident is not your fault, you expect the guilty side to cover repair expenses. But what would you do if this person denies their fault? Your chances of getting a refund are not too inspiring.

May the car be equipped with an IoT device reporting its location, speed, time of the accident, you would have no reasons to worry.In case you’re right, the data on the blockchain would prove your words, and you would get your payment automatically.

4. What is a Real Estate Smart Contract

A real estate smart agreement is a contract, usually written, between the owner of a property and a buyer/renter who desires to have permanent/temporary possession of the property as distinguished from a lease which is more typically for a fixed term.

Overview

Real estate deals, especially, cross-border ones are way too painful for a normal person to handle. You don’t want to get involved in months of legal negotiations, paper signings, and other bureaucratic nuances related to transfers of ownership rights.

With the help of smart contracts, this pain is easy to avoid.The centralized registry of the property would allow you to buy and sell real estate without intermediaries and to pass ownership rights within minutes.In a few clicks, you would find the apartment you want, pay for it, and get the proof you’re the new owner. You don’t even need to meet with the seller.

5. What is a Supply Chain Smart Contract

An intellectual property rights smart contract is an agreement recorded on the blockchain, stating that a specific individual or business may do certain acts without infringing the owner’s intellectual property rights; at the same time its confirms ownership of the property to the author.

Overview

When you come to the store to buy seafood, you never know 100% how fresh it is. It might be written that it has just arrived from Denmark. Your options are not too impressive – you may either believe it or not.

With their help, tracking of the way products pass before they arrive at the retail spot becomes automatic and transparent.Smart contracts combined with IoT devices are about to make a revolution in logistics and supply chain.For instance, this technology can be used for tracking retail goods, responsibly sourced coal, oil, gold, etc. Owing to the blockchain.At any given moment, you know where the goods are, in which conditions they’re stored, and when they would arrive. It applies not only to food products.

6. What is a Gambling Smart Contract

A gambling smart contract is an agreement to engage in a gamble. In a gambling smart contract two parties wager something, especially money, for a chance to win a prize or an amount. Gambling smart contracts can enforce terms related to legal gambling activities where gambling is legal.

Overview

The Internet is full of offers to play online slot machines or to check out new virtual gambling rooms. When you play for free, you don’t care too much whether you win or lose. But when you play for money, you start thinking about payments and ways of getting your winnings.

If a virtual casino adopts smart contracts, you would have no reason to worry: whenever you win you get your reward, whenever you lose you can’t fool the system and keep your money.Gambling becomes transparent and honest. The same algorithm applies to any paid computer game and e-sports.

7. What is an Intellectual Property Rights Smart Contract

An intellectual property rights smart contract is an agreement recorded on the blockchain, stating that a specific individual or business may do certain acts without infringing the owner’s intellectual property rights; at the same time its confirms ownership of the property to the author.

Overview

Piracy and authorship violations are a big issue within the entertainment industry. Musicians, photographers, writers, and other artists are deprived of their royalties due to the dishonest exploitation of their intellectual property.

Making a transparent registry of authorship on a blockchain is an ambitious example of how smart contracts may improve the current state of affairs. For instance, whenever someone downloads your novel or stock photo, you get a refund automatically.Moreover, your rights are registered securely, and no one would be able to alienate them.

What is a Mortgage Smart Contract

A Mortgage smart agreement is a contract between a borrower and a lender written on the blockchain which regulates the mutual promises made by each party.

Overview

Smart contracts can automate mortgage contracts by automatically connecting the parties, providing for a frictionless and less error-prone process.The smart contract can automatically process payment and release liens from land records when the loan is paid.

They can also improve record visibility for all parties and facilitate payment tracking and verification. They reduce errors and costs associated with manual processes.

Digital identity is a key requirement.

HOW IT WORKS?

Creating a Smart Legal Agreement/Contract on a Bloackchain

To get started, you are required to select the type of contract/agreement you would like to proceed with. DocTailor provides users of the patform, with tools to customize leagl documents that will later be written as code into the blockchain.

Set requirements (payment dates, triggers & more)

Once you have selected the type of smart contract/agreement you require, the next step is to customize it to your needs. You can do this my selecting paragrahs and clauses that work for you or your organization.

Request concerned parties signatures

Once you have finanlised your smart legal document, you can then invite parties participating within an agreement, to sign and safely commence a transparent trade; saving time, money and conflict due to the high level of transparency.

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