Legaler’s $1.5M Funding Round Puts Australian Legal Services on the Blockchain
Legaler Raises $1.5 million to Establish Blockchain Substructure For Legal Services
An Australian firm known as Legaler is building the blockchain substructure for the imminent of provision of legal services, having raised $1.5 million. The firm also became part of the Pacific Blue capital, as well as a host of other prominent legal industry figures.
Previously, the firm was instrumental in launching an online tool to assist lawyers as well as clients to easily and securely partner. The tool was adopted by over 1000 legal firms in over eighty nations. This in turn, enabled the firm to maximize on other blockchain projects since it had an existing team as well as an international user base.
Targeting Four Billion People
It is alleged that the unbanked population across the globe is about two billion, with approximately 3.5 billion people living without any access to the internet. As a company, Legaler is targeting four billion people who do not have access to justice all over the world. According to Steve Ghiasi, the Legaler CEO and co-founder, 80% of people living in developed countries like US, UK, and Australia with legal issues do not have access to any legal assistance. This is because of the extortionate costs in addition to unfathomable intricacies of the legal structures in these nations.
Consequently, according to Stevie, there should be a vital shift, which can only be possible with the advent of blockchain technology. In many ways, the current communal blockchains have a number of restrictions which limit confidentiality as well as transaction output.
This therefore forced the company to reconnoiter new compromise algorithms as well as side chains for rapidity and charge reserves. Additionally, there was the need to meet discretion necessities of the legal fraternity.
Legaler is comparable to Apple’s revolutionary App store, due to the fact that it has become an infrastructural layer that consists of proprietary blockchain as well as developer instruments for legal services. The main objective of Legaler is to bring the one trillion dollar international industry online, and in so doing, be in a position of get rid of costly intermediaries.
Reduction of Barriers
Additionally, the firm wants to see a reduction of barriers to legal services by financing dApps which can leverage Legaler’s innovative technology and developer tools which can offer more access to sound legal services.
Legaler will in the near future declare its advisory team which is made up of top notch member of CanYa Stanford, Ripple, as well as developers in the legal and blockchain industry. Michael Bachina and Piper Alderman, Australia’s expert blockchain and crypto lawyers have also been incorporated to be part of the team.
In line with their vision of offering greater accessibility, the company intends to sell tokens which will be structured in such a way that any member of the public will be able to take part in it from the first day. In the recent past, many companies have made token sales a preserve of the elite. However, Legaler wants to alter the status quo by bringing back the decentralization in its real sense.