OpenLaw today has tweeted that it will enter the 12 trillion dollar derivatives market and posted a video to give the context of how it intends to do so.
OpenLaw and the #olestack is poised to transform the $12 trillion derivatives market (yes, trillion dollar) 🤑
Lots of work to do, but check out the first steps below:https://t.co/x1D7rT2ojJ
— OpenLaw (@OpenLawOfficial) November 6, 2019
OpenLaw is a blockchain protocol that was designed to be used in the creation and execution of legal agreements. When using the protocol, the founders claim that one can streamline the transactional nature of these agreements through smart contracts.
The platform claims to be the first to,
“comprehensively stitch together traditional legal agreements with blockchain-based smart contracts in a user-friendly and legally compliant manner.”
OpenLaw works through the use of legal templates and legal markup language. The markup allows people to wrap logic and other information around legal prose, thus making the process of preparing legal documents safer and easier.