When Rob Knight, the co-founder of Mattereum lectured about the future of blockchain at the Brighton Digital Festival in 2017, his point of reference was how this technology could be used to manage contractual rights. A few months later, his talk is now a reality and indeed a project called Mattereum and highly poised for success.
The blockchain is without a doubt a buzzword nowadays, regularly thrown about as if it is just another word. Yet it is set to be another remarkable invention that will not be compared to any previous creation. Given that it is decentralized, brings about the virtues of transparency, and allows quick completion of tasks, its acceptance is expected!
What Is Mattereum?
Created by an able team of lawyers and programmers based in the UK, Mattereum was established to act as a lawful platform for property or copyright management and arbitration. It does so by helping harness the power of blockchain software in the execution of legal contracts while providing a simple legal interpretation and implementation to digital trade. It serves as the pioneer in the world of the global Internet of Agreements as it incorporates the next frontier of digital commerce.
Mattereum is unique, both regarding its function and those credited for its founding. The team who created it boasts years of experience in crafting remarkable infrastructure and Mattereum is a perfect testament to that. And it will allow business powered by the blockchain technology to come up with their system of automated, decentralized commercial law for execution of any legal contract.
What this means is, Mattereum will give businesses the convenience of reaching agreements and consensus on various facts legally and acceptably. And this will be possible via the creation of Smart Contracts!
Realistic Aspect Of This Blockchain-Based Legally-Enforceable Project
It Brings Software Smarts To Legal Pacts
In the business world, contracts are literally signed on everything and every day. The e-commerce world, however, finds it a bit hard to have the agreements signed and honored by each party. With the emergence of Mattereum, therefore, all promises will be legally binding and thus clear the way for safe, trustworthy and reliable operations.
Mattereum is an excellent choice given the benefits it brings forth. Smart Contracts will be decentralized and automatic, and the total cost will be relatively low. Of course, there’s the benefit of the businesses having their agreements digitalized.
Mattereum Introduces The Internet Of Agreements
The Parting Shot
The web of agreements as the next stage of digital commerce is exciting. It comes at a time when economies, industries, and companies have been yearning for an in indispensable tool or management. And so, it will impact several sectors that often require contractual agreements, most notably including supply chains, real estate, finance, employment and intellectual property.
The best part of Mattereum, however, is how it blends with both startups and blue-chips and adequately be a solution to their needs. It has the valuable feature of transparency and can manage contractual agreements that extend for years of decades, cover varied areas and still be viable.
The business model employed by Mattereum will thrive off three different sources of fees, namely:
- Fees paid for contract security analysis, basically before an asset is accepted into the system.
- Fees charged whenever a smart contract is integrated into the platform – a percentage of the value transferred.
- Fees charged in exchange for resolving a dispute – arbitration fees.
However, you can still visit the website or use their Whitepaper to get a more in-depth analysis.