Agrello is a blockchain technology that creates legally-binding smart contracts. Find out how Agrello works today in our review.
What Is Agrello?
Agrello is a blockchain technology that allows users to create and manage smart-contract-based legal agreements using an AI counselor. You can use the platform with no coding or legal skills required.
Agrello promises to be easy to set up. Even if you have no blockchain or legal expertise, you can use Agrello to create a legally-binding multiparty agreement in seconds. The platform comes with an intuitive user interface complete with templates and wizards.
We’ve seen smart contract technology play a crucial role in a number of different industries – including ICOs. Agrello takes smart contracts to a logical place: the world of legally-binding contracts. Using smart contracts based on the blockchain, Agrello can enforce a contract between two parties.
Agrello is made by an Estonia-based team of lawyers and technologists. You can visit Agrello online at Agrello.org, where they’ve published their whitepaper.
Agrello’s ICO is taking place throughout July and August. During the ICO, you can buy DELTA tokens, which can be used in the future to pay for services on the platform, or to reward real legal experts (like lawyers and paralegals) over the platform.
How Does Agrello Work?
Agrello promises to make human agreements smarter through the use of smart contracts.
The platform is specifically designed to be used with those who have limited legal knowledge or blockchain experience. If you can use a computer, you can use Agrello to create a legally-binding smart contract.
The platform comes with wizards and intuitive UI systems that make it easy to formalize multi-party agreements. You create an agreement, then Agrello translates the agreement into its smart agreement markup language before publishing the agreement to the public blockchain.
At the same time, a legally binding document, written in natural language, is created and digitally signed.
The end result is that you have a contract between two parties that’s legally binding. That contract is enforced not just by the document in the “physical” world, but also on the immutable blockchain.
As an extra layer of protection, Agrello has created an AI legal counselor to walk you through the entire process.
Plus, there are also real counselors available through the platform, including a community of real lawyers and paralegals. These professionals are compensated in Agrello tokens based on the quality of their feedback.
Before the end of Q3 2017, Agrello hopes to launch a rental agreement onto its platform. In the future, the company envisions users being able to launch any type of legal agreement over the Agrello platform – including business contracts and financial agreements, among others.
Agrello advertises all of the following features:
Easy To Set Up:
Agrello uses intuitive GUIs, templates, and wizards to allow anyone to setup legally-binding contracts over the blockchain. One of the key goals of Agrello is to allow anyone – even those with no legal knowledge or blockchain experience – to use the software. If you can use ordinary PC software, then you won’t have any trouble using Agrello
Legally Protected Code:
All agreements are translated to Agrello’s smart agreement markup language and reflected in a public blockchain. In parallel, a legally binding document written in natural language is created and digitally signed.
Managed By AI:
The Agrello platform uses an artificially intelligent BDI agent that acts as your personal counselor. Your agent guides you through your agreement, notifies you of your legal duties and rights, then identifies contract obligations that can be automated before executing them on your behalf.
Flexibility And Control:
You remain in control at every stage of the process. That means you have full control of your privileges and duties – you’re able to waive and manage them according to potential benefits and consequences, as presented to you by your agent.
Agrello contract templates are provided, vetted, and localized by a community of lawyers and paralegals. These individuals are compensated in Agrello tokens based on user feedback and the community-driven popularity of their contributions.
Agrello’s ecosystem revolves around a token called DELTA. The DELTA token sale is scheduled for July 16 to August 17. 1 DELTA is assigned a value of 0.0001 BTC.
The goal of the ICO is to raise a maximum of 10,000 BTC. Acceptable payment methods include BTC and ETH. You can purchase tokens from Agrello.org or from ICO Bank.
Agrello tokens are ERC20 tokens based on the Ethereum blockchain. 66% of tokens will be distributed to the market. 10% will be given to the foundation, 0.7% to partners, 0.7% to founders, 0.6% to advisors, and 0.4% to a community pool.
Users will be able to use DELTA tokens to perform various actions in Agrello, including the deployment of new agreements, or any tasks that involve using Agrello’s blockchain and contract repository services.
Agrello was created by a team of Estonian lawyers, high-level academics, and information technology experts. The company was founded, according to the official About page, “with the shared vision of creating digital contracts that will forever change the way people interact with each other and interface with legal authorities.”
Core members of the team include Hando Rand (Project Lead), a legal researcher at Tallinn University of Technology, Alex Norta (Chief Scientist), a technical visionary with 16 years of experience in smart contract research, and Anton Vedeshin (Implementation Lead), a CTO and cryptography expert with a PhD from Tallinn University of Technology.
Agrello is based in Tallinn, Estonia. You can contact the company by email at firstname.lastname@example.org or by phone at +372 53 479 042.
The first goal of Agrello is to launch an alpha version of their rental agreement GUI, something they hope to accomplish before the end of Q3 2017.
By Q4 2017, Agrello aims to expand across Europe. In 2018, they hope to expand across Asia while continuously expanding the number of legal products available through the platform.
Agrello is yet another sign that the legal industry is moving towards an increasingly AI-based system. With Agrello, people with zero legal or blockchain knowledge can create legally-binding contracts. The first goal of Agrello is to create a blockchain-based rental agreement. In the future, Agrello plans to replicate an increasing number of legal products – including everything from business contracts to legal financial documents.
The Agrello ICO is taking place throughout July and August. You can participate by visiting Agrello.org.