Agrello is a smart contract-based platform that focuses on legal agreements built with AI counseling.
The platform started its development in 2017. The team of the project were an Estonian group of developers and law specialists who wanted to improve traditional conventional contracts. It is stated in the Agrello whitepaper that traditional contracts lacked a way to manually track its performance status. Such contracts are also sometimes vulnerable to the so-called legal “grey zone” - the situation, when a correctly established contract can be broken with no further penalty due to some mistake in the legal framework.
Another important problem of the traditional conventional contracts is that they are often very time-consuming and complicated to establish. It is true, that only a few people are able to develop legally protected contract all by themselves. The idea of the company was to use blockchain networks and smart contract technology in order to provide robust and easy to use platform for legal contracts production.
The Agrello’s white paper describes the main advantage of their system with an example of a rental process. Currently, in order to rent a house or a room one has to undergo a number of procedure like looking for an apartment, finding a real estate agent or to negotiate the terms of a deal face-to-face with an owner. Agrello makes the process easier in the following way.
In the Agrello network landlord pre defines the terms of the deal. He or she establishes the acceptable terms and the system looks for an appropriate candidate. The same is true for a future tenant, who builds a request according to his/her expectations. If both parties are comfortable with each other, the system offers to fix terms of a deal in a smart contract. Both parties have a right to decline an offer in case they don’t consent with some part of the counterpart’s requirements or characteristics with an indication of it so that the opportunity for change could be left.
When both parties’ requirements are met the system builds a smart contract that fix them in the blockchain and tracks its realization. If the contract is deactivated both in case it is prematurely terminated or the expire date comes.
The main objective of the project is to provide easy-to-build smart contracts that can be built not only by IT-developers but also by non technologically-advanced specialists like layers, financial experts and members of other professions.
In order to provide higher accessibility of its services, the project offers a graphical interface, templates and other tools that are used for smart contract development within the network. It allows for a smart contract to be written in a natural language and translated into the system in the Agrello’s markup language.
For all the time of development of a new smart contact, Agrello’s in-built artificial intelligence counselor notifies a user about legal nuances of the deal and shows contract obligations.
The Agrello platform is powered by the Delta (DLT) token. The Delta token is a ERC-20 token, built with the Ethereum technologies. It is a utility token that could be used within the Agrello system to use some of its core functions. For example, Delta is used to:
- Unlock contract templates
- Enable document signature
- To contribute technological solutions to the network
- To use Agrello’s blockchain interoperability features
The total supply of the token is 130271020 DLT.
Delta coin price
The price of DLT token or Delta coin is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin360 widget.
The Agrello’s ICO happened in third quarter of 2017. During the ICO project managed to collect 35 million dollars. The token distribution went in the following way:
- 10% were received by the Agrello foundation
- 7% went to the project’s partners
- 6% were used as a reward for advisors
- 4% were allocated in the community pool
- 66% were sold to the public
The Agrello’s token (DLT) is not minable.
Delta (DLT) is traded on the following exchanges:
See Also on BitcoinWiki
- Agrello on Linkedin
- Agrello’s Blog
- Agrello’s Facebook Account
- Agrello’s Twitter Account
- Agrello on Reddit
- Agrello on YouTube
- Agrello’s Telegram