The company is creating a blockchain based smart contract arbitration system that is built on top of the Ethereum network. The OpenLaw platform allows lawyers to create, digitally sign, and securely store legal agreements using smart contracts. The company offers a variety of templates for various legal agreements that can be modified using their own 'legal markup' language to create the specific smart contract requirements desired by the platforms users.
Beyond the boring blockchain bubble
OpenCourt: Legally Enforceable Blockchain-Based Arbitration
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- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.
- EthereumEthereum is an open-source, public, distributed blockchain computing platform featuring smart contract (scripting) functionality, which facilitates online contractual agreements.
- ConsenSysConsenSys is a blockchain development studio building decentralized applications utilizing the Ethereum platform. It was founded by Joseph Lubin in 2014.
- MattereumMattereum is a project working on the development of legally enforceable smart contracts.
- Smart contract (blockchain)A smart contract (self-executing contract, blockchain contract) is an agreement between parties that is enforced by a program encoded onto a blockchain which executes code exactly as originally written.