Rocket Lawyer Plans to Democratize Access to Legal Services, Bring Blockchain to the Masses
Rocket Lawyer is a digital, blockchain-based platform partnering with more than 300 companies including Google, Dropbox, and Pinterest (offering its services as employee-benefit packages) to provide customers with do-it –yourself legal services. Their latest product, Rocket Wallet, will aim to deliver “legal contract execution and payments on the Ethereum Blockchain.”
The company demoed the platform’s services at the Ethereal Summit in Brooklyn this past Saturday. This platform will help leverage the trustless immutability of Ethereum in the background while users can create legally blind documents between two parties.
Rocket Lawyer CEO Charley Moore explains why it’s not about Blockchain or decentralization for its own sake, telling Decrypt, it’s more about using “a tokenized system to add more trust and security to the transaction by using a security deposit. It’s the first time that anyone has built something like that.” He went on to explain that mainstream businesses and individuals can use it to solve the “problem of trust” for transactions.
For example, you could arrange to sell your car with a smart contract on the platform, having the buyer pay half up front and the other half after driving a couple of weeks. The contract would be arranged, funds would be held using stablecoin, and if the contract conditions were met, it would be automatically paid.
According to Moore, Rocket Lawyer’s mission is to bring as many legal services as possible to as many people as possible, services that are too expensive for the average person. The expectation is that Blockchain technology will make routine services like commercial agreements will be done more efficiently and cost less as a result.
Unfortunately, a general public roll out will take time with Moore saying the “Ethereum community understands that there are issues around scaling.” Moore expects the Rocket Wall to remain largely beta invitation status through at least summer as more testing needs to be done before full deployment. Fortunately, there is no cap on the amount of people able to join the beta group.
Moore says the goal is to be able to scale with a “delightful user experience,” and that only if and when that happens will the platform go fully live. Rocket Lawyer’s senior vice president Mark Edwards stated the Blockchain elements must feel “invisible” and that the platform must “keep it simple. People don’t need to know that there’s any Blockchain [thing] going on. Focus on the experience.”
Everything being done with Rocket Wallet is patented and Moore says not to expect competitors like Legal Zoom or any other to do the same.
There is every chance that many crypto-curious consumers will be excited to try Rocket Lawyer with Moore saying, “For Rocket Lawyer, our business is helping folks stay in compliance with the law” and, at the moment, “the crypto community needs a good lawyer.”