How can Blockchain make contracts and legal processes more efficient and able to support new utilization models?

Proposed by

Abreu Advogados was created in 1993 and currently has more than 200 lawyers in a team of more than 300 professionals. This is an independent law firm that develops institutional relationships with several legal associations and international law firms. At Abreu Advogados it is promoted the policy of the 3Qs: Human Quality, Technical Quality and Organizational Quality. Abreu Advogados is present in Portugal with 3 offices and has partnerships with law firms in Angola, Brazil, Cape Verde, China, Mozambique and Timor-Leste (joint office).

Winner Project

The concept proposed by Altantis Blockchain Explorer is focused on the development of a mobile app for Android and iOS considering the following features: - Creation of a marketplace for smart contracts (valid for buy and sell contracts, for instance); - A chat interface so that all parties involved can have the chance to discuss, negotiate and develop the digital contracts on the Blockchain; - Digital arbitration within smart contracts; - Using Artificial Intelligence for the ranking of contractors, service providers, mediators, and parametric legal contracts' models.

Finalist Project

TechHQ has presented a solution that allows: - To access legal documents of a particular network and according to the accessibility policies dictated by the entity responsible for the Blockchain; - Validate and verify the validity of documents on the Blockchain; - Observe the history of document validations on the Blockchain.

Challenge Description

New technologies and approaches such as on-demand, distributed ledgers (including technologies such as Blockchain), artificial intelligence, and automation are being incorporated into traditional contracts, and legal processes.

At the same time new models of contractual use are developing where contractual static relations is giving way to dynamic subscription and other relationship models. For instance in transport, car ownership is increasingly having to compete with new models of rental and access services. These models will also require a new cadre of contractual services which are focused on dynamic contractual terms.

The combination of these trends opens an opportunity for the development of smart contract based services which help co-ordinate and make more efficient the development, use, maintenance and service of legal relationships.

We would be interested in services which span across traditional boundaries of legal and services providing distributed informed solutions to make these processes better co-ordinated, secure and more efficient and provide platforms for new models of use.

We are particularly interested in solutions that leverage open and shared data to:

- Help ensure the integrity of interactions within smart contracts;

- Integrate data of different modalities (sensors, legal data, historical records, event triggers) to produce useful services and establish new types of relationships;

- Use legal data to predict contract change needs and create more efficient servicing and legal services; and

- Predict and help optimise contract usage and parties satisfaction level, including in multi-stakeholder scenarios.

More information on the Challenge