Meteor Games: DOCTAILOR TOKEN REVIEW

What is DocTailor ?

DocTailor is a unique self customizing smart legal contract platform, that allows, lawyers, individuals and organizations to send and create legal tailor-made smart contracts and agreements on the blockchain without developer experience.

The Problem

Blockchain technology remains a relatvely new and undiscovered concept; a fact which is, in part, responsible for the current low adopton rates that have been witnessed. Many businesses and consumers are stll not fully onboard with the noton, and blockchain
has become something of a controversial topic, despite the many clear benefts 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 noton of storing personal data on the blockchain is stll many years away from widespread adopton, with many believing it will take around 10
years for this to become mainstream practce. The public are, however, somewhat more open minded about smart contracts on the blockchain, with this utlisaton of the technology estmated to become mainstream practce within 5 years

a. Early Limitations

As is clear, the existng range of blockchain applicatons is severely limited. To date, applicatons 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 frst three months of 2016; more than twice the value of deals during the last quarter of
2015³ — these services ofen fail in terms of overall user experience. This is a factor that can be directly atributed to confusion and low adopton rates.

Additonally, as there are limited smart contract applicatons, there is also limited demand for the necessary skills and experience required to develop such platorms. There is a notable disconnect between what is happening, and what needs to happen, to get blockchain technology oﬀ the ground. A soluton is urgently required to the stakeholders and applicatons together to bring value to the market

Therefore, it is antcipated that the next wave of advancement for blockchain technology will focus on building this ‘bridge’, connectng blockchain protocols with mainstream consumers to develop the new decentralised economy. This step is understood to be the key to widespread blockchain adoption.

b. Cost & Time

Smart, tailor made legal document creaton has been cited as a major concern for businesses operatng to tght budgets, as well as to organisatons, legal professionals, and individuals with restricted resources or limited income. In additon, the tme required to develop such documentaton must be considered, with complex contracts ofen needing signifcantly more tme and funding than their basic counterparts.

The Solution

DocTailor has been introduced as a viable long term soluton to issues hindering the widespread adopton of blockchain technology. Focusing on a highlighted ﬂaw of existng smart contract applicatons — user experience — DocTailor enables easy access to blockchain, cryptocurrency, and smart contracts.

The platorm will support third party API integraton, allowing for any customised smart contracts to be incorporated into third party systems. The noton is simple: to make it easy and straightorward for businesses to create and deploy smart contracts while beneftng from the cryptocurrency economy.

Platform Use

It is antcipated that the following will form the primary user base
for DocTailor:

Lawyers & Legal Professionals

DocTailor will provide lawyers and other legal representatves with an easy-to-use interface, enabling them to create tailor made documents at a faster pace, allowing for beter use of valuable resources.

Individuals

DocTailor will enable individual users to create documents to their own specifcatons, utlising existng templates to maintain the typical structure and language of standardised legal documentaton

Industries

DocTailor will provide a platorm 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