Trust Different

…introducing the first platform to keep and manage contracts trustless.

LawOnChain is an innovative start-up launching into Legal-Fintech market with a truly revolutionary proposal in terms of use of Blockchain technology and automation through Smart Contract.

Early Features

Timestamping

It’s about notarization of data.
It allows the unalterable certification of a data or a document in general. LOC then provides a user interface capable of retrieving data once they have been notarized. In this way, everything registered is always enforceable against third parties. Timestamping is the basic functionality of the platform and serves as a tool for the other pillars.

Covenants

Automatic control through a smart contract, of the agreements subscribed in a loan contracts. Once the contract has been set up on the platform and the related clauses have been fixed, the smart contract will receives a feedback based on checks made by the contract manager (CM), and will carry out certain actions provided for, by the legal agreement.

Advanced Features

Merge & Acquisition

A SPA contract regulates the purchase and sale, between two or more parts, of the holdings of a target company.

The terms of such operation are described in detail and the entire operation purchase is subject to compliance with specific executive procedures or ad any conditions precedent or resolution.

The Seller then grants specific guarantees and undertakes to indemnify detailed future events suitable to cause damage to the buyer. The application relating to the SPA will be able to coordinate 4 main figures: a contract manager (CM), a buyer (purchaser), a seller (seller) and a lender.

For each SPA contract you want manage through the platform, the CM can create up to three entities basic: the SPA contract, the escrow contract and the contract of financing that – of course – can be customized up to the minimum detail. 

Escrow Management

This is the guarantee management service seen as contracts in itself standing or which may arise from one of the services offered by LOC.
An escrow contract is an agreement between three parties, in which a part (Contract Manager, or “CM” in the event of a LOC platform, holds and regulates the payment of the funds that must take place between the other two parties, generally a buyer and a seller. 

For example, this type of contract can be used by a buyer and by the seller to make their transaction more secure.

The payment, or part of it, is kept in a secure account and released when all terms of the contract are met.

LOC platform through the use of specially designed smart contracts can manage this agreements.

Restructuring

With the term “restructuring” are identified all those operations aimed at resolving corporate crises caused by most disparate reasons, endogenous or exogenous. Operations that are by nature extraordinary, designed to bring a balanced budget, where not there was, identifying the needs and planning the actions to report to business profitability.
The restructuring activity is therefore a complex operation that must be set up with a multidisciplinary approach as one. Debt restructuring is successful only if accompanied by the right ones strategic choices and the implementation of correct corporate policies. One of the main features offered by the LOC platform is that it automates the monitoring activity of the company, after adoption of the reorg agreements, replacing “agents”, or that professionists who are required to perform a series of controls, in particular on compliance with financial parameters.

Strenghts

Every contract as it should be

Smart

Each contract becomes smart once written into blockchain. Each article is engraved and ensured. Each rule is monitored, triggered and notified.

Inviolable

The state of the contract is secured by cryptography. This provides the best way to control the access right.

Strong

Facts are collected in the history of the contract, building a resilient accessible state.

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Immutable

Every agreement is a flow of trusted events and rules permanently written in the blockchain. No one can overwrite the history.

Every deed available as it should be

Everywhere

Worldwide unlimited retrieving of information by parties about conditions and changes of managed contracts.

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Everytime

No limitations due to different time zones. Simultaneous consultations are handled by blockchain distributed structure.

Trustless

No third parties are required to have a trusted environment. Every condition is evaluated by oracles or code executed inside the blockchain.

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Law on chain 2019

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