Doc Tailor

"Doc Tailor" - Self Customised Smart Legal Documents on the Blockchain

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This report has been created for legal professionals, organizations, and individuals, discussing the long-term viability of self customized smart legal documents on the blockchain. Specifically, the report will focus on the DocTailor automated platform, considering the technology’s ability to position itself in such a way as to boost, innovate, and disrupt the current and existing tailor-made legal document landscape.

There is notable demand for smart contracts, although few are making use of the services that have already been made available. In fact, while almost half of all senior executives believe there is value in smart contracts on the blockchain, and while they would be happy to use a smart contract service, reports suggest that just 13% have actually incorporated the technology into their work. This highlights the fact that there is something missing from existing services which is preventing widespread adoption.

Video About Doc Tailor


Use of Smart Contracts on the Blockchain



The creation of smart legal documents is currently posing a challenge for many organisations and individuals, particularly for those with limited developer experience. The concept has been criticised for being both costly and time consuming. DocTailor aims to address these common issues and concerns. DocTailor is a unique, automated legal document platform facilitating the creation and distribution of self customised smart legal documents on the blockchain. DocTailor has been designed to simplify implementation of a smart contract, significantly reducing associated time and cost for users.

DocTailor has been developed by a blockchain-experienced team, striving to utilise the groundbreaking technology in new and revolutionary ways. Many of the team’s developers have joined DocTailor from artificial intelligence (AI) backgrounds, working to further develop the idea through AI-focused systems.

About Tailor Made Platforms

This report has been created for legal professionals, organizations, and individuals, discussing the long-term viability of self customized smart legal documents on the blockchain. Specifically, the report will focus on the DocTailor automated platform, considering the technology’s ability to position itself in such a way as to boost, innovate, and disrupt the current and existing tailor-made legal document landscape.

The DocTailor platform will enable all users, regardless of developer experience, to deploy legal documents with an integrated smart contract feature. The technology’s aim is to create a new ecosystem designed to demonstrate ways in which blockchain advancements can be utilized in the legal industry.

DocTailor aims to:
  • Improve accessibility of customized smart contracts
  • Boost ease of smart contract development, acquisition, and distribution
  • Offer easy payment options, storing both cryptocurrencies and fiat money
  • Facilitate use of the DocTailor DOCS token and/or other cryptocurrencies
  • Operate on a P2P, B2C, and B2B basis as necessary
  • Integrate with the business infrastructure to bring value to real-world situations
  • Manage and monitor deployed smart contracts and blockchains

Blockchain Adoption by Industry in 2017


There are several challenges which have been cited as primary obstacles hindering widespread blockchain adoption, including integration issues, a lack of expertise within the newly emerged industry, high costs, volatility, and concerns relating to consumer protection which have not yet been addressed. While specific aspects of these concerns have been addressed, through the launch of suitable multi-currency wallets and crypto debit options with backend liquidity, more needs to be done to tackle the ‘last mile’ of blockchain adoption. Key to bringing blockchain into day-to-day life is arguably the ability to build and deploy smart contracts alongside payments made using various cryptocurrencies.

Introduction

The cryptocurrency market is anticipated to grow from a current $730 billion value to $10 trillion within the next 15 years, solidifying the importance of holders of cryptocurrency as an integral part of a new, decentralized economy. Total cryptocurrency market capitalization has been steadily growing in recent years.

Cryptocurrency by Market Cap


This economy will rely heavily upon self-automated, tailor-made legal agreements and smart contracts. DocTailor’s mission is to lay the foundations for this new economy by enabling non-crypto businesses to fully utilize blockchain technology, while simultaneously encouraging the acceleration of crypto-business.

The 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 businesses and consumers are still not fully onboard with the notion, and blockchain 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 accepted than others. For example, research suggests 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.

When Will Blockchain Technology Become Mainstream?


A primary concern is that, in order to derive value from blockchain technology, significant changes or complete overhauls are often required of existing ‘tried and tested’ systems. For blockchain to become a part of daily life, problems need to be identified and addressed, with suitable solutions implemented.

Early Limitations

As 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 2015³ — 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.

Cost & Time

Smart, tailor-made legal document creation has been cited as a major concern for businesses operating to tight budgets, as well as to organizations, legal professionals, and individuals with restricted resources or limited income. In addition, the time required to develop such documentation must be considered, with complex contracts often needing significantly more time and funding than their basic counterparts. Costs and time considerations are both major obstacles standing in the way of joint ventures and partnerships. 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.

The Solution

DocTailor has been introduced as a viable long-term solution to issues hindering the widespread adoption of blockchain technology. Focusing on a highlighted flaw of existing smart contract applications — user experience — DocTailor enables easy access to the blockchain, cryptocurrency, and smart contracts. The platform will support third-party API integration, allowing for any customized smart contracts to be incorporated into third-party systems. The notion is simple: to make it easy and straightforward for businesses to create and deploy smart contracts while benefiting from the cryptocurrency economy.

The Legal Document Market

The overall value of the digital legal document market is rising rapidly. This would suggest that there is increasing demand for the industry and that there are already numerous contractual services and solutions in place. However, there is a current and notable gap in the market for a solution that truly capitalizes on usability; a crucial element of the business model. DocTailor has been designed to fill this gap and improve smart contract accessibility for users.

Blockchain & Legal Documents

Utilising blockchain technology, DocTailor aims to focus on user experience by ensuring that while contracts can be amended with ease, documents cannot be updated or changed without the permission of a higher authority. Blockchain technology will be used to maintain consistency in terms of clause accuracy and clarity of wording, to ensure that the legal document structure remains intact throughout.

Platform Revenue Streams

DocTailor users will be able to access clauses and other ‘pay as you go’ (PAYG) features with cryptocurrency. Tokens can be used to purchase tailor-made legal documents, as well as additional features that are to be included on the platform. Those using tokens in place of fiat money will be rewarded with additional time added to the account, and access to exclusive documents and templates. Incentives to utilize the platform will come, in part, from a user and token holder benefits and income.

User Income

Users can generate income by creating smart, tailor-made agreements and contracts on the platform and sharing these documents with other users seeking documents with similar requirements and clauses.

Characteristics & Advantages

DocTailor has been designed to benefit from the following characteristics and advantages:
  • Clause Selection: Users can choose from more than 10,000 pre-created legal clauses.
  • Merging Clauses: Selected clauses can be merged into existing document structures.
  • Document Structuring: New contracts can be built for users quickly and efficiently.
  • Formatting: Documents can be downloaded in various formats (eg. Word, HTML, XML, PDF).
  • Blockchain: Templates are held on the blockchain, maintaining clarity and transparency.
  • Tracking: Users can monitor contract use and recipient participation (eg. authorization).
  • Contract Management: Documents can be stored and managed online as needed.
  • Authentication: Alerts are used to signal the signing of documents and contracts.
  • Smart Contracts: Secure agreements are used to protect both parties in financial transactions.

Platform Use

It is anticipated that the following will form the primary user base for DocTailor:
  • Lawyers & Legal Professionals: DocTailor will provide lawyers and other legal representatives with an easy-to-use interface, enabling them to create tailor-made documents at a faster pace, allowing for better use of valuable resources.
  • Individuals: DocTailor will enable individual users to create documents to their own specifications, utilizing existing templates to maintain the typical structure and language of standardized legal documentation.
  • Industries: DocTailor will provide a platform allowing businesses to close deals faster and more cheaply. Documents can be created to further grow and develop the business through new service offerings to clients.

Next Steps

The next steps for both the legal industry, and for many other sectors, is to begin looking beyond cryptocurrency exclusively, to identify uses and benefits of the underlying blockchain technology. In terms of the legal industry in particular, the creation of self-customized smart contracts using the DocTailor platform is simply the first of many steps towards widespread blockchain adoption. For example, DocTailor has the potential to pave the way towards a simpler, more clear-cut method for intellectual property rights management, for land registry and deed management, and for public records.

Number Of Tokens On Sale

500M (500,000,000) DOCT, of which:
  • 300M to be available in token sales.
  • 50M is reserved for ICO bonuses.
  • 100M retained by DocTailor.
  • 50M is reserved for early adopters in PRESALE
  • Ethereum ERC20
  • Purchase methods accepted: BTC and ETH (1ETH = 2700 DOCT tokens)

Roadmap


Team

Sam Enrico Williams
Founder and CEO

Having built intelligent systems for the past 10 years, that have been implemented into corporate structures and organizations, Sam Enrico Williams brings a deep level and understanding of System Architecture. Sam has strong experience in Cryptocurrency, blockchain technology and economy markets; needed to drive DocTailor to unprecedented levels.

Dominic Brown
COO

Having successfully cultivated communities in China, USA, and Europe to gain exposure for the development of ICO’s in the past. Dominic is adding operations and experience management to the role of COO. Having worked in the field of Blockchain technology and Cryptocurrencies for over two years Dominic has seen the fluctuations of the crypto environment and can see the rationalization through the chaos.

Alexandrine Masse
Senior Legal Officer

Alexandrine has won a prize in law competition. She has extensive experience in various fields such as finance (private equity, fundraising, investments, family offices), commercial and luxury real estate, communications, public relations, public affairs and diplomacy, media, education on an international scale and especially in France, in the UK and in emerging markets. She has worked closely with international lawyers for many years and has successfully won her own cases.

Saffron Weale
CMO

The business management graduate, senior manager in two of the largest Trading Companies in the UK. Played a critical part in undertaking the task of reforming both companies, leading each company to market dominance effectively in a short period. Managed social media campaigns, 100+ sales team, and monitoring affiliate marketing campaigns meeting ROI. Also has a specialty in analyzing forex markets.

Marco Zaratta
Italian Legal Counsel

With a relevant experience as in-house legal counsel, Marco is specialized in many Italian law fields with a focus on corporate law, real estate, bankruptcy law, intellectual property, joint ventures and procurement/public bids. He has a specific expertise in the swift and business-oriented drafting of a wide range of legal contracts.

Pavel Rubin
Blockchain & Software Developer

Mathematics and Electronics Graduate from Moscow State University. Data Scientist and Developer for Blockchain Ethereum contracts and live sports and betting statistics. Experienced ICO Developer and Consultant.

Victor Khomiak
Front-End Developer

Victor Khomiak has 5-year experience in web development. Victor offers experience and expertise in browser development tools, CSS frameworks and building and automation tools. Victor offers excellent hands-on development skills in JavaScript, HTML, Version control, JavaScript Frameworks, Web Performance, Responsive Web Design, CSS, UX / Usability and overall testing of system infrastructure.

Khaja Aleemuddin
Data Management

Khaja specializes in formulating, devising and implementing efficient and secure procedures for data management and analysis with attention to all technical aspects of quality data collection to ensure adequacy, accuracy, and legitimacy of data. Monitor and analyze information and data systems and evaluate their performance to discover ways of enhancing new technologies.

Advisors

Chadwick Palmatier
Certified Bitcoin / Cryptocurrency Professional

As Primary Consultant of a New Company, it's my job to help/advise in the areas of Bitcoin & Cryptocurrency, ICOs, Exchange & Wallet Acct setup, as well as Trading/Investing Strategies.

Petro Levchenko
Cryptocurrency Advisor

A discretionary investment manager and consultant, specializing in cryptocurrencies and blockchain. Having spent nearly a decade trading traditional currencies and currency derivatives for investment banks with an outstanding track record of performance as well as managing teams of traders, Petro has been focusing on active proprietary investment strategies in crypto space and active consulting for a few years.

Krystelle Galano
Crypto Marketing Advisor – Asia

A marketing professional, proficient in social engagement on all major platforms. Cultivated networks of over +60,000 blockchain supporters. A worldwide reach to bring exposure to any platform through a strongly developed network.

Abhijith Naraparaju
Blockchain Solution Architect

ICO expert, one of the few dependable ICO analyst on ICO bench. Working and building his position within the community for over 5 years. Abhijith has built a strong following as a dependable source of information a knowledge around cryptocurrency as a trusted blockchain solution architect.

Sash Jeetun
Research and Development Analyst

Previous market maker for FTSE FMCG products, early investors in cryptocurrencies. Leveraging his deep interest Blockchain projects to begin his own crypto hedge fund in 2018. Sash's ambitions is to reinvent the way business is conducted. A more decentralized, open source and transparent marketplace.

Marco Mengele
Blockchain Compliance Executive

Highly experienced, Social Media Marketing and Blockchain Advisory, Marco Mengele has worked as the CEO of the Equality project, in the field of Education of Blockchaintechnologies. He also created the Crypto Trading Fund CTF and worked as Advisor and Core Team member in many other Blockchain projects.

David Drake
ICO Adviser

David has been involved in technology, media, telecoms, realty, hospitality, cleantech, energy and social impact investments for more than 25 years. He is an advocate of digital automation investing in private equity, compliance, capital formation policies and the US JOBS Act which he lobbied for in the US Congress and the EU Commission.

Vladimir Nikitin
Legal Advisor – Russia

With over a decade of legal experience specializing in the Russian jurisdiction. Areas of expertise: legal audits Magister Juris, economic law. Through Vladimir's journey, he has developed a strong network of over 25,000 contacts. These professional operate within the blockchain community or the legal industry.

Michael Buchbinder
Crypto Exchanges & Liquidity

With over 10 years of experience in traditional banking and blockchain, Buchbinder is a managing partner at Scandinavian Capital Markets, one of the largest and most trusted ECN brokers, from the Nordic region. He has an MBA from the University of Windsor and is a trusted crypto banker helping facilitate OTC purchases and exchange listings. Michael is interested in informing the public about altcoin and how to access the crypto markets.

James Sowers
Advisor & Crypto Expert

James is an experienced ICO and blockchain advisor.He has angel invested in over 40 startups and initial coin offerings such as Crypto Specialist LLC, Alchemist accelerator, Faster Capital, collective venture capital, GreaterGoodSociety, ICO Bench and a Member of Blockchain advisory council

That's the explanation about Doc Tailor which Digital Science can convey.hopefully, can be useful for friends of cryptocurrency lovers. Thanks and look forward to information about other crypto worlds.

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