News Legal Services Blockchain Project Raises $1.5 Million • Live...

Legal Services Blockchain Project Raises $1.5 Million • Live Bitcoin News


- Advertisment -

Legaler is creating a decentralized app to offer a platform that will provide people with direct access to legal services. The company has just raised $1.5 million in a fundraising round.

An Australian company, Legaler, is going to build a blockchain infrastructure for providing legal services to those who need it. The company has raised $1.5 million in a recent fundraising round led by MasterNode Ventures.

Who Are They Targeting?

An online meeting tool was previously launched by the company in 2017 with the purpose to help lawyers and clients collaborate easily. Now, Legaler is targeting the 4 billion people of the world who are living without any access to legal services.

Steve Ghiassi, the CEO and co-founder of the company, said:

In developed countries like the United States, United Kingdom, Canada, and even Australia, 80% of people encountering a legal issue are unable to get help due to the prohibitive costs and arcane complexity of the system. There needs to be a fundamental shift and blockchain technology will provide just that.

The blockchain and development tools of Legaler are to be utilized to build protected and expandable decentralized applications (dApps). The aim of raising the funds is to bring the $1 trillion legal industry online, allowing those who lack access to legal services to have their voices heard while also reducing expenses by cutting out the middleman.

A new blockchain project aims to bring legal services to those who lack access.

Ghiassi adds:

Existing public blockchains have several limitations which limit privacy and transaction throughput which have prompted us to explore new consensus algorithms and sidechains for speed and cost savings, as well as zero knowledge proof technology to meet the confidentiality requirements of the legal industry.

What’s Next?

The company will soon be conducting a token sale which has been structured in a very unique way, allowing any citizen to participate from day one. Ghiassi says:

Although token sales were initially a democratic process, recent times have seen access to early stages of sales reserved for the elite few. We want to change that by getting back to what decentralisation is all about.

Mr. Ghiassi said that the upcoming time is going to be an exciting one for the legal industry. saying:

It’s an exciting time to be in the legal industry. The convergence of AI, blockchain, and automation will bring radical change to a profession that has traditionally lagged behind other service industries.

So what are your views on using blockchain technology as part of the legal system? Share your views in the comments below.

Images courtesy of ShutterStock.

Source link


Please enter your comment!
Please enter your name here

Latest news

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the modern era as of yet. Luckily, there are tools to...

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether is one of the oldest altcoins and probably the most...

Banking Sector is Ready for a Tech Revolution With Cryptocurrency

When our world is going through a massive change due to COVID-19blow, it is very likely that...

OpenDAO’s Bridge Opens New Possibility for Mass Adoption of DeFi

When Satoshi Nakamoto officially created Bitcoin on January 3, 2009, his vision for the digital asset was...
- Advertisement -

Crypto’s price surge was mostly due to limited information – here’s why

As the world becomes more and more digitized, the usage of one of the most popular cryptocurrencies,...

U.S. Authorities Seized Bitcoin Worth a Total of $1 billion

The cryptocurrencies were in the possession of a person who had hacked Silk road, which was detected...

Must read

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the...

Ethereum Price Sees $500 for the First Time in Two-and-a-half Years

First launched in 2014, Ethereum or Ether...
- Advertisement -

Read Next
Recommended to you