Early LimitationsAs is clear, the existing range of blockchain applications is severely limited. To date, applications are primarily focused on wallets and online exchanges, although there are a small number of smart contract services and monitoring tools available. However, despite their availability and, indeed, their demand - the value of smart contract deals reached $116 million during the first three months of 2016; more than twice the value of deals during the last quarter of 2015 - these services often fail in terms of overall user experience. This is a factor that can be directly attributed to confusion and low adoption rates.
Additionally, as there limited smart contract applcations, there is also limited demand for the necessary skills and experience required to develop such platforms. There is a notable dsiconnect between what is happening, and what needs to happen, to get blockchain technology off the ground. A solution is urgently to tie stakeholders and applications together to bring value to the market.
Therefore, it is anticipated that the next wave of advancement for blockchain technology will focus on building this 'bridge' connecting blockchain protocols with mainstream consumers to develop the new decentralised economy. This step is understood to be the key to widespread blockchain adoption.
Cost & TimeSmart, tailor made legal document creations has been cited as a major concern for business operating to tight budgets, as well as to organizations, legal professional, and individuals with restricted resources or limited income. In additions, the time required to develop such document must be considered, with complex contract often needing significantly more time and funding than their basic counterparts.
Cost and time considerations are both major obstacle standing in the way of joint ventures and patnerships. This is true for practically any industry or sector. In human resources, for example, it is reported that it can cost an average business up to $750 to prepare a basic employment contract.
There is an urgent requirement for a solution such as the DocTailor platform. DocTailor utilities an 'inteligent clause' feature to automatically identify and highlight sections of a document, contract, or any other form of agreement which may need to be amended to suit the purpose. DocTailor user can alter, replace, or remove clause as necessary to form a unique, csutomised, tailor made smart contract. Research shows that smart contract can be deployed on Ethereum blockchain in as little as 14 seconds.
Solution
DocTailor has been introduced as a viable long term solution to issue hindering the widespread adoption of blockchian technology. Focusing on a highlaighted flaw of existing smart contract appications - user experience - DocTailor enables easy access to blockchain, cryptocurrency, and smart contract.
The platform will support third party API integration, allowing for any customised smart contract to be incorporated into third party system. The notion is simple: to make it easy and straightforward for business to create and deploy smart contract while benefiting form the cryptocurrency economy.
Benefits of DocTailor Features
Clause SelectionUser are able to select form an-unlimited database of carefully formulated clauses that have been precreated by legal professionals from various industries.
Merging ClausesSelected clauses can be merged into existing document templates to alter and create unique tailor made contracts, agreements or documents.
Document Formating
Documents created on the platform can be downloaded in a varity of formats for external use. Those formats include Word, HTML, XML and PDF.
Blockchain
All document templates and structures have been checked over before being uploaded to the platform for the use of platform users. The templates are also held on the blockchain to maintain clarity and transparancey.
Tracking
Alerts are produced and sent to authors of the documents to keep them updated.
Contract/Document ManagementAll document, contract and agrrements created by user of the platform can be stored and managed online.
Smart ContractUse are presented with automated solutions to facilitate, verify, or enforce the negotation or performance of a contract or agreement.
Authentication & SigningThe platform allows user to monitor the recipients participants where a documents, contract or agreements needs a digital/electronic signature or any other form of authorization by a counter party.
Tokens
Number Of Tokens On Slae
500 million (500 000 000) DOCT, of which:
300 million to be available in tokensale
50 million are served for ICO bonuses
100 million retained by DicTailor
50 million are reserved for early adopters in PreSale
Etherum ERC20 Etherum ERC20
Purchase methods accepted: BTC and ETH (1 ETH = 2700 DOCT tokens)
Conclution
Bsed upon the characteristics and benefits of DocTailor, it is clear that the platform has necessary features and, most importantly, the necessary unique selling point (USP) to achieve its aim of revolutionising the exisiting smart contract landscape. The platform's specific focus on user experience and accessibility makes DocTailor the most viable candidate to date to disrupt existing contract systems.
However, DocTailor's succes relies heavily upon grater adoption of blockchain, not only from individuals, but also from organisations and legal professional. As a tailor made platform, there is a reliance upon user to work to create DocTailor data. However, blockchain adoption is said to soar within the coming years, with more than half of executive claiming that their business would be at a 'significant disadvantages' against competitors in the future should they fail to utilise blockchain.
Problem
Blockchain technology remains a relatively new and undiscovered concept; a fact which is, in part, responsible for the current low adoption rates that have been witnessed. Many business and consumers are still not fully onboard with the notion and blockchian has become something of a controversial topic, despite the many clear benefits that this sort of technology promises to deliver.
However, some areas of blockchain are more widely acepted that others. For exmaple, research suggest that the notion of storing personal data on the blockchain is still many years away from widespread adoption, with many believing it will take around 10 years for this to become mainstream practice.
The public are, however, somewhat more open minded about smart contracts on the blockchain, whit this utlistations of technology estimated to become mainstream practice within 5 years.
- Sam Enrico Williams : Founder and CEO
- Dominic Brown : COO
- Alexandrine Masse : Senior Legal Officer
- Saffron Weal : CMO
- Marco Zaratta : Italian Legal Counsel
- Pavel Rubin : Blockchain & Software Developer
- Victor Khomiak : Front - End Developer
- Khaja Aleemuddin : Data Management
For more info
Whitepaper: https://www.doctailor.com/assets/pdfs/whitepaper-en.pdf
Telegram: https://t.me/joinchat/GZaHXQ-Bbr7xnrNmjX4zIA
Facebook: https://www.facebook.com/doctailor/
Twitter: https://twitter.com/documenttailor
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2893424
Profile Link: https://bitcointalk.org/index.php?action=profile;u=1168143
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