Because I was traveling last week to attend the ctrl ALT del conference of the Association of Legal Technologists (which I wrote about here), I fell behind on some notable news stories from the world of legal technology. Here are three:
Monax Launches Blockchain Smart Contracts Platform
Last year, I wrote here about the launch of the Agreements Network, a blockchain-based platform developed by the company Monax and a consortium of allied law firms and legal technology companies. I later interviewed the founder of Monax, Casey Kuhlman, for my LawNext podcast.
The Agreements Network was intended to serve as a decentralized platform for law firms to productize contracts as scalable “active” (or smart) agreements and for consumers of legal services, mostly smaller businesses, to realize cost savings and greater security through a blockchain-based contract management system.
Last week, Monax announced the public beta launch of the first application built on that network, the Monax Platform. Monax describes it as a “relationship-centric workspace” for small-to-midsized businesses that enables them to leverage digital contracts to control risk and drive business systems.
According to Monax, the platform includes tools that allow businesses to create legally binding and auto-enforceable smart contracts, and then track and visualize their contractual obligations in a real-time, secure environment. Businesses can also use it to automate their contract templates and workflows.
The platform has two components: the Monax Dealspace and the Monax Studio. The Dealspace allows users and their counter-parties to delegate and coordinate team contractual tasks or approvals, automate repetitive contractual tasks, track the state of contractual obligations, dynamically load contractual tasks or approvals based on the contract’s state, and perform audits on legal obligations.
The Studio enables users to graphically create and test their obligations’ workflows in a drag-and-drop environment that does not require programming knowledge.
In Florida,
