American Point of View: Looking in from the Outside
As an American citizen, it pains me to come across project like this. There is So much potential and all that I can do is sit back and watch.
CONTRACT VAULT
I stumbled onto this beauty not too long ago on Twitter, I believe. Have you ever come across a certain project that you couldn’t get out of your head? Even though I can’t invest, I still love the research and review process so why not start an ICO Review series.
Upon release Contract Vault will be a revolutionary platform for the Legal Contract industry. We hear so much about smart contracts in the world of crypto currency, but what if I told you that you could have smart contracts that were also legally binding? That’s right, Legally Enforceable smart contracts. Dare I say, Smart Contract 2.0? Contract Vault will achieve this by using what are called Ricardian Contracts. I know, I know, “what in the world is a Ricardian Contract?” Don’t worry…. Thanks to Wikipedia I’ve got you covered:
”A Ricardian contract can be defined as a single document that is a) a contract offered by an issuer to holders, b) for a valuable right held by holders, and managed by the issuer, c) easily readable (like a contract on paper), d) readable by programs (parsable like a database), e) digitally signed, f) carrying the keys and server information, and g) allied with a unique and secure identifier.” — https://en.m.wikipedia.org/wiki/Ricardian_contract
The deployment of Ricardian Contracts will allow CV to build an entirely new ecosystem in which the average person or business can interact with, purchase and deploy next level Smart Contracts. Contract Vault has a Contract Building function where professionals from within the legal community can create contract templates for daily use. Or, they can very easily put the contracts up for sale in the built in CV Marketplace. Average Joe will be able to search for and purchase any type contract he or she needs. He or she will also be able to search out guidance, from within the community, if the need should arise.
The possibility for change in the legal field is endless. Contract Vault has plans for a block chain based Stock Market, P2P Lending Platform, and a one stop shop for ICOs which will make hosting an ICO easier than ever. Who knows what else they’ll come up with?
The team is stacked with people from both the Tech and Legal industries. Though totally unproven in this space, they seem quite professional and very knowledgeable. One trip to their Telegram will prove this. They’ve got a great community over there! I hear a lot of reviewers and investors constantly knocking these new projects for not having a “Superstar” on their team. I tend to feel differently and give most people the benefit of the doubt. Every one of those Superstars had to start somewhere! What I care about is Can they get the job done. In this case, I think Yes.
Contract Vault has plans to release the Beta version of their MVP before the end of the token sale as well. The Token Metrics are what you’d expect to see in a sizeable utility ecosystem like this: 900,000,000 total supply. ALL of the unsold tokens will be burned.
Soft Cap: $1,000,000 USD
Hard Cap: $45,000,000 USD
I’m calling the team’s distribution a 3 year gradual release. Some call it a Cliff. Essentially, every 6 months, 1/6 of the team’s coins will mature and become available for distribution. This process will last for 3 years
Conclusion
Aside from the current state of the market, I just don’t understand how this project doesn’t have more hype around it. Even though we’re neck deep in a bear market, I’m still as wide eyed and hopeful for the future of the space. The blockchain revolution is just beginning and it’s projects like Contract Vault that get us closer to mass adoption.
Will I Invest:
Yes I will…. When it hits exchanges
Website:
Contract Vault: Truly smart contracts for everyone on the Ethereum blockchain
Contract Vault is a platform that bridges the gulf between legal contracts and smart contracts making the creation,…www.contractvault.io
Social Media:
Telegram: https://t.me/cvchat
Twitter: @Contract_Vault
LinkedIn: https://www.linkedin.com/company/11293132/
Facebook: https://www.facebook.com/contractvault.io/
Bitcointalk: https://bitcointalk.org/index.php?topic=3463255.0
Medium: https://medium.com/contract-vault
I have learnt a few more things from your article, thanks for sharing!!
great article. simple yet very instructive.!
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