The primary mission of this project is to realize a legal system that is fair to all individuals involved. Currency the systems are marred by corruption, with justice being given to the people with the deepest pockets. Legal Things One proposes the use of smarts contracts to eliminate these issues, resulting in a fair legal system. Consequently, the new legal systems will have:
- Independence – clients will participate in a legal system free of intermediaries who besides charging hefty fees usually mislead uninformed individuals.
- Efficiency – live contracts will facilitate the automation of agreements and was without delegation all access to the machines.
- Reduced Fraud – all events and data will be stored in a credible and immutable way, mitigating fraud and eliminating bureaucracy at the same time.
Roadmap For LiveContracts LTO
Legal Things was launched in 2014 as a platform looking to create, share and sign digital agreements. Their first venture was a huge success, instigating the development of a Document Transaction Management platform. A year later, the first version of Legal Things hit the market. It featured a document and form builder, a document management system, digital signing and an advanced user authentication manager.
Early in 2016, the platform digitized the entire contracting process, rather than the signatures alone. Later that year, the company implemented blockchain technology, particularly Bitcoin's proof of existence. Ethereum came in half a year then. These efforts did not go unnoticed, as Legal Things bagged an award for their exemplary services. The year 2017 concluded with the successful launch of the presale of LTO tokens.
In the second quarter of this year, the company intends to conduct the LTO crowdsale. Afterwards, they will publish their standards, allowing third-parties to incorporate the software into their operations. Later on, the project will be piloted in chosen locations across the world.
LiveContracts LTO ICO Token Sale
For the presale, a total of 10 million LTO tokens were minted. As of now, over 6.2 million ha=ve been sold. It is projected that all the tokens will be sold by the time the stipulated period elapses. The tokens are going at the rate of $0.25 per LTO.
During the proper crowdsale, 60 million tokens will be available. Also, 20 million tokens are allocated to the company reserves, while the remaining third is shared between the leadership and bounty programs.
Immediately after purchase, the LTO tokens are available for use. If deemed excessive, the extra tokens can be sold on the Waves Decentralized Exchange (DEX). It is worth noting that LTO tokens cannot be spent; instead, members can opt to trade, lease or hold them.
Member institutions have the option of hosting their full node by holding LTO tokens. For small-scale users, they can integrate Legal Things API into their enterprise's software. This gives them the autonomy to offer both normal and smart contracts to their customers.
Lastly, clients may lease their tokens to a node of their choice in exchange for an increased interaction limit. By leasing tokens, members directly interact with their live contacts without relying on the central node.