NotaryTRADE is a blockchain platform designed for notaries, lawyers, and their clients, which involves the use of NTC tokens – a pre-mined cryptocurrency you can send by email. Find out everything you need to know about NotaryTRADE today in our review.
What Is NotaryTRADE?
NotaryTRADE is a platform operated by a Zurich, Switzerland-based company named Kolab Systems. In June 2017, that company announced an ICO. The NotaryTRADE ICO is underway throughout the months of July and August. You can participate (even if you don’t currently own cryptocurrency) by visiting NotaryTRADE.io.
The platform claims to be the first notarized cryptocurrency exchange with blockchain servers owned entirely by clients. Using NotaryTRADE, you can send cryptocurrency by email and protect digital assets.
The ecosystem revolves around NotaryTRADE Coins, or NTCs. NTCs are the world’s first notary-backed cryptocurrency. Transactions can be co-signed by an attorney or notary to receive legal validity.
In practical terms, that means NotaryTRADE allows clients to carry out NTC transactions with the seal of a notary, which gives NTC legally-documented value. NTCs are the first cryptocurrency with legally-documented value.
Uses For NotaryTRADE
Why would someone need to use a notarized digital currency? NotaryTRADE allows clients to protect digital assets – like files and NTC cryptocurrency accounts.
The platform also allows users to arrange the assignment of digital property to successors, order files to be preserved or disclosed to specific persons or entities, or determine digital files that will be published for the general public at a pre-defined date in the future.
NotaryTRADE coin holders can also use the platform’s blockchain-powered email system to transfer coins directly to any email address. Recipients receive an email allowing them to securely accept the transfer. Then, they can choose to hold onto those coins or exchange them into other cryptocurrencies or fiat currencies.
Another key use for NotaryTRADE is that you can re-create the currency if your NTC key is lost or stolen. You just visit your local law or notary office then create a new private key.
Overall, NotaryTRADE describes itself as “the perfect transaction platform” for all of the following types of legal transactions:
Real Estate Purchases, Property Leases, Equipment Leases, Franchise Agreements, Advertising Agreements, Indemnity Agreements, Intellectual Property Transfers, Settlement Agreements, Release Agreements, Assignment of Contracts, Stock Purchase Agreements, Shareholder Agreements, Partnership Agreements, Joint Venture Agreements, Agreement to Sell Businesses, Consulting Agreements, Bills of Sale, Purchase Orders, Security Agreements, Employment Agreements, Distributor Agreements, Wills and Inheritances.
How Does NotaryTRADE Work?
Instead of mining fees, NTC uses “Smart Notary Agreements”. These work similar to smart contracts, but have the added security of execution control. The contracts can only be executed by a law or notary office. The agreements are designed to automatically generate revenue for clients from their own NotaryTRADE servers based on the number of NTC coins they hold.
The entire platform is based on OpenPOWER servers. Kolab Systems, the makers of NotaryTRADE, is a member of the OpenPOWER Foundation. That means they can co-examine and audit the machines running NotaryTRADE to the same degree as the software can be audited by others.
About Kolab Systems
Kolab Systems is based in Zurich, Switzerland. The company created NotaryTRADE. Kolab offers its secure Kolab collaborative suite to large companies, application service providers (ASPs), governments, SMEs, and individuals. In addition to the notarized cryptocurrency platform NotaryTRADE, the company offers services like email, calendars, file management, tasks, notes, address books, and more.
NotaryTRADE is a Swiss-made blockchain platform that lets you turn anything into your own asset-backed cryptocurrency through the use of “Smart Notary Agreements” – which are kind of like smart contracts.
The platform is ideal for any legal property transfers, or situations where you would normally need a notary. The company has published dozens of use cases at its official website. Some of the most popular use cases will be in real estate and land transactions, business ownership deals, inventory management, art, precious stones and metals, intellectual property, and labor time, among others.
Ultimately, NotaryTRADE is a blockchain owned by notaries, lawyers, and clients. It has unique features – like a legally-protected token that isn’t mined, and thus doesn’t require any mining fees. You can learn more about the platform today, or participate in their ongoing ICO, by visiting NotaryTRADE.io