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Legal Nodes Updates

Decentralizing The Provision of Legal Services and Building the First “Fully Distributed Law Firm”

The Decentralizing the Provision of Legal Services and Building the First “Fully Distributed Law Firm”

Embarking on a journey of legal compliance is never easy. As an entrepreneur, you probably know that.

For blockchain businesses, that are international by default, staying compliant can be challenging. Should you decide to do business in such a rapidly-changing ever-moving sphere, your typical scenario will look like this: your competent local attorney provides you with a legal opinion and a list of jurisdictions that either lack regulation in this sphere, have employed a cumbersome regulation with hefty fines for non-compliance, or have banned all virtual currency activities whatsoever. In some of those jurisdictions, attorney will connect you with his/her partners, who, with their in-depth knowledge of local legislation, will further assist you in staying compliant locally.

Chain of Intermediaries

As a result, you end up with a long and extensive chain of intermediaries and, as a consequence, skyrocketed legal costs. There is no need to remind you, that legal services in the blockchain sphere don’t come cheap. And if you are, for example, selling tokens in ten jurisdictions – you have to be compliant in all of those ten jurisdictions.

How do we know about this problem? As legal consultants with more than three years of extensive consulting experience in this sphere, we often act as links in these chains of intermediaries.

Concept of Decentralization

We firmly believe that intermediary chains have no place in a modern world, including in the legal industry. We, therefore, pursue a philosophy of legal services decentralization, in which networking and well-structured flow of information lie at the core of doing business.

We, however, faced a complicated problem of having old-fashioned legal industry on the one hand, and a need for prompt and efficient way to share legal information between distant parts of the world, on the other.

Our Solution

To deal with the issues mentioned above, we decided to develop a solution that would eliminate all intermediaries from the process of legal services provision and consumption, enabling peer-to-peer transactions between the parties and facilitate legal networking in the blockchain sphere.

This is why we created Legal Nodes, an online global ecosystem connecting legal experts with unique competencies all around the world. From the perspective of an entrepreneur, all you need to do is select a preferred area of legal support offered on the platform, and our smart matchmaking will connect you with the most suitable legal expert to attain to your needs.

However, we are aware that there is an issue with “trust” towards consultants working in the sphere of mostly unsettled regulation and delivering services online. For this very reason, our smart contract serves as a decentralized escrow agent that will freeze the transaction and will only send the payment to the legal expert after you have confirmed that legal services have been delivered correctly and in full.

Growing the Network

What you see right now – is just a beginning. Our team has the ambition to disrupt the legal industry to the biggest extent possible. Very soon, we will develop an AI that will substitute our smart matchmaking, making your customer journey even more convenient.

Moreover, focusing on the legal competencies required for blockchain businesses is only our starting point. As a distributed and independent ecosystem, Legal Nodes is easily scalable into the other fields of law.

We also believe that ensuring competent and candid dispute resolution is a cornerstone to any contractual relations. Therefore, should you have any dispute between you and your legal expert to solve – it will be resolved on a platform that utilises multi-signature arbitration using smart-contract technology.

Our Big Mission

With a global network of competent legal experts, decentralized arbitration and implementation of most advanced solutions IT sphere has to offer, Legal Nodes is the first place to develop “a truly distributed and globally connected law firm” – a place, where legal sphere that has been outdated for so long, collides with the most up-to-date technology.

We see the facilitation of legal services provision and consumption, building a worldwide network of legal nodes, from whom you can ‘mine’ legal information, just like you would typically mine Bitcoin. And we would like to invite you to join us on this exciting journey of building a true Legal Internet.

 

Legal Nodes Team

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