The Qtum project continues to spark the imagination of developers and investors alike. Estonian blockchain startup Agrello has taken a keen interest in what this platform has to offer as well. To be more specific, the company has announced they are working on business-ready smart contract solutions, which will be built on top of the Qtum blockchain.
Agrello Sees The Value of Qtum’s Blockchain
It is always good to see other startups recognize the potential a blockchain platform brings to the table. While very few people doubt Qtum will be successful, the acknowledgment by Agrello is a validation of their services. In fact, the company will focus on building an AI-powered smart contract interface, all of which is made possible thanks to the Qtum blockchain.
To be more specific, Agrello is working on a very innovative concept as we speak. Building and developing an intuitive AI-driven interface that uses smart contract technology is no easy feat by any means. After all, the project allows users to create, manage, and automate legally binding smart agreements, regardless of their previous coding and legal knowledge. For consumers wield such power, an intuitive interface is more than needed.
As one would expect, these legally binding smart agreements are stored as smart contracts on a blockchain. However, Agrello also plans to translate them into legally binding documents in natural English. This allows individuals and businesses to use smart contracts as a substitute to replace paper contracts altogether. Up until this point, such a change in business operations was laughable at best, yet the technology has arrived to make this concept a realistic venture.
The choice to make use of Qtum’s blockchain for this venture is quite significant. Since Qtum’s white paper discusses a Smart Contract Lifecycle Management solution, both projects are like two peas in a pod. Deriving smart contract code from human-readable agreements and real-time management is what Qtum aims to bring to the masses. Agrello has been looking for a viable backbone helping them out in this regard, thus it is only natural both projects will come together in the future.
Keeping in mind how Qtum’s platform will be opened up to the public in Q3 of 2017, it will be interesting to see what other projects we can expect in the future. Blockchain technology and smart contracts will introduce major changes to our society as a whole, that much is evident. Agrello is just the first of many Qtum-based projects we can expect over the coming years.
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