Blockchain and AI Support DeLaw LegalTech to Provide Simple Access to Legal Services

DeLaw’s AI legal assistant makes legal services more effective and accessible by streamlining the development, review, and administration of contracts.

As part of the Decentralized Law movement, VAIOT introduces Legal Torch, a platform that combines the Decentralized Dispute Resolution System (DDRS), zk-SNARKs certificates, and AI Legal Assistant to modernize and democratize legal procedures.

Conventional legal systems frequently face severe obstacles due to their exorbitant fees, drawn-out legal processes, and restricted accessibility. Blockchain and artificial intelligence (AI) technologies are being incorporated into traditional legal procedures via Decentralized Law (DeLaw), which is revolutionizing the legal business.

By decentralizing legal services, introducing smart contracts—self-executing contracts with conditions directly integrated into code—and utilizing AI to provide automated legal help, DeLaw addresses traditional problems. This creative method improves confidence and security in legal transactions while cutting expenses and saving time. As a result, more people may obtain expert legal services, opening up new prospects for both private citizens and small enterprises.

Blockchain and AI: Democratizing the Legal Services Industry

With a broad ecosystem of solutions that upend established legal procedures, VAIOT, an AI-driven LegalTech solutions platform, supports the growing DeLaw movement. VAIOT, a 2018 startup, uses blockchain technology and artificial intelligence to provide cutting-edge LegalTech solutions that democratize access to legal services.

By the end of 2024, VAIOT’s flagship platform, Legal Torch, is scheduled to launch in Malta. Via the integration of blockchain and artificial intelligence, it seeks to close the gap between conventional legal processes and contemporary technologies. The project aims to spread throughout Europe and beyond, customizing its business model for different areas and utilizing strategic alliances to revolutionize the legal sector on a global scale.

VAIOT’s AI Legal Assistant is a key component of Legal Torch. By streamlining the development, evaluation, and administration of contracts, the AI-powered application increases the efficiency and accessibility of professional legal services. Users may greatly cut down on the time and expense usually connected with legal procedures by producing legally valid papers, automating repetitive actions, and receiving support.

The certifications for zk-SNARKs are another essential part of Legal Torch. Using a cryptographic technique called Zk-SNARKs, two parties can demonstrate to one another that they are aware of a value without disclosing any details about the value itself. Zk-SNARKs certificates guarantee privacy and secrecy in contractual data exchange in the legal services setting, offering a safe method of handling sensitive data without sacrificing openness or confidence.

Moreover, Legal Torch uses VAIOT’s Decentralized Conflict Settlement System (DDRS) to meet the requirements for just and effective conflict settlement. Conventional conflict resolution procedures may be costly and time-consuming, sometimes necessitating protracted court cases or arbitrations.

DDRS uses blockchain technology to develop an impartial and open dispute settlement process. A decentralized panel of jurors who are Know Your Customer (KYC) validated and chosen according to their qualifications participate in the AI-assisted bargaining process. This method is a useful tool for both individuals and corporations since it speeds up the settlement process, lowers expenses, and guarantees impartiality.

Taking a Jury Trial

As jurors in DDRS, token holders can get incentives in VAI, the native token of the platform, for reviewing the evidence and rendering verdicts on cases through on-chain voting. By moving up the rank system, voters can become judges, attorneys, or jurors, unlocking new avatars and earning more incentives and non-fungible tokens (NFTs).

Staking VAI tokens and answering a questionnaire to determine competence are prerequisites for participation. Stake-free engagement is possible for qualified professionals who have been validated via the KYC procedure.

Widely accessible and scalable, DDRS by VAIOT will also be made available for use in other projects through an application programming interface that can be integrated into current and developing Web3 platforms.

The Future of Legal Technology

VAIOT is poised for big growth in 2024, having established a strong market presence since 2018 and been governed by Malta’s stringent Virtual Financial Assets (VFA) framework since 2020. The release of its AI Legal Assistant’s Web2 edition, which attempts to close the gap between conventional and contemporary legal processes, is one significant turning point.

By October 2024, VAIOT also intends to test its DDRS. The system’s capacity to enhance legal conflict resolution by making it more transparent, effective, and economical will be demonstrated throughout the testing phase. in the future, VAIOT hopes to take its DeLaw solutions into other markets, starting with Malta and moving on to other EU nations.

VAIOT’s complete solutions, encapsulated in the Legal Torch platform, aim to make legal procedures more accessible, transparent, and efficient for everyone, even while DeLaw continues to change the legal environment. This change will open the door to a day when sophisticated legal instruments will be widely accessible, promoting a more just and effective legal system on a worldwide scale.