As a great solution for the smart contracts to be used by everyone, DocTailer will be changing legal transactions from the ground up to allow ease of use. No developer experience? No problem. You can still use this platform to deploy smart contracts on the blockchain. According to research from Deloitte 46 percent of senior executives, such as CEOs and CFOs would like to use smart contracts on the blockchain and its decentralized applications. However, here is the curveball; many people think it is too technical. This, of course, includes managers and other highly trained individuals. Developers understand the technology but they tend to lack the capacity for the social know how to convince the legal and administrative people to the benefits of this technology. In addition, user-friendliness is the major problem is such situations, causing the technology to be viewed as “too technical”. Using this platform, anybody will be able to create custom smart contracts. Check out this student doing it :)
The DocTailer platform will help users to produce legally binding smart contracts and everyone will be able to use blockchain ecosystems quickly, and it will be affordable. In addition to being affordable, if you are writing smart contracts, you will be able to make an income for yourself! Let's say someone needs a smart contract similar to yours. If you made your own smart contract available, other folks who want to use your contract will pay you DOCs, the token on the Ethereum network. Authors making money will accelerate the dissemination of the platform, making money for the investors. It is a win-win situation. If you are holding DOC tokens, they will distribute rewards to you every quarter. This is a good incentive to hold the tokens instead of selling them for FIAT or for ETH. Usually, tokens that have incentives for the investors to hold them tend to keep or increase their values. This platform has the capacity to disrupt multi-trillion dollar economies and sectors.
Here is a short video to explain this:
DocTailor will give power to everyday people and will cut the middleman in legal transactions by increasing accessibility, which saves money for everyone, well, almost everyone except the middleman :). Although this sounds like a socialist system at first, lawyers and legal people will be able to work as advisors, and thus, they can get back to what they do best, and get rid of the unnecessary legwork.
Ethereum based smart contracts are expected to cause changes in the legal sector. The Blockchain technology and its distributed public ledgers are immutable, and there is no risk of the documents being lost, manipulated, changed or hacked. The files are fragmented over different computers in different countries and no one computer has any of the complete files. In addition to being encrypted, they are secure because of the Proof of Work concept used in the blockchain. All transactions are transparent yet they are anonymous, all the requirements by any legal system can be satisfied.
An immutable ledger provides ALL history to the transactions and what happened. This way, ratings can be provided to the smart contract Authors. More popular authors with greater legal knowledge will make more money compared to careless people because all the documents produced will be thoroughly checked. Some of the features of the platform include Clause Selection, Merging Clauses, Document Structuring and so much more. Legal professionals from various industries will create legal clauses and users will be able to select and download these documents in a format they choose such as html, xml, pdf or word. These clauses can be used by themselves, or they can be combined for various contracts, agreements or documents, or they can simply be merged into existing documents in a very short time. There will be check mechanism before these documents are uploaded to the blockchain and the blockchain will record every little change so nothing is lost. When someone uses the document or the clause, the alerts set up earlier will warn the authors. Using, verifying, or enforcing the negotiation or performance of these documents will be fully automated. Any type of electronic signature can be monitored using the platform.
For More Information, please visit:
Website: https://www.doctailor.com/
Twitter: https://twitter.com/DocumentTailor
Bountyhive link of the platform: bountyhive.io/join/DocTailor
My bountyhive link: bountyhive.io/r/ridertiger