We’re developing a ‘Smart Contract’ system for electronically signing documents and sending the final version to the blockchain.
Smart contract technology works by setting a series of conditions that must be met before the contract is executed. This could be as simple as the date and signatures, or several parties agreeing to a number of changes before signing can begin. Smart Contracts can also require delivery of a good or service before execution of a contract. Consider real estate business transactions being executed upon verification of proper documentation, payment and/or shipping.
We’re working on a system of transferring ownership of digital assets on the blockchain from one party to another. Copyrights are a great example. If one party sells or licenses a copyrighted work to another party, ownership of that asset can be licensed or transferred completely from party to party, from one party to multiple parties or any variation. Ownership history can be tracked, and it’s all kept securely on the blockchain. Examples include artistic works, software, designs and more.