The legal sector is full of middlemen, costly expenses and piles of papers you’ll have trouble of even understanding unless you have a relevant degree. Agrello aims to establish itself as –the- platform for legally-binding smart contracts, easy and simplified, ready for peer-to-peer usage.
Based out of Estonia, the team managed to raise nearly $35 000 000 in just a month.
Agrello provides an interface which can be used by any individual to formalize any sort of a contractual agreement with ease. If the parties involved agree on the terms, the contract is translated into Agrello’s smart agreement markup language and reflected in the public blockchain while at the same time the same document, written in natural language is created and signed. The Agrello platform employs the use of AI to essentially provide legal counselling. The agent guides you through the contract and your legal duties. It can than identify your obligations and automatically execute them on your behalf.
Agrello uses a cryptographically secured digital ID solution called the Agrello ID. It requires a valid government-issued document, such as an ID card or a driver’s license and access to the user’s smartphone camera. The identification process involves the users taking pictures and recording videos of them holding their ID of choice. It also prompts for access of the holder’s location in order to bring the fraud attempts to a minimum. A personalized 6 digit security code is then created that is used to authorize actions or sign contracts.
The Delta (DLT) is Agrello’s utility token. It is used to power the network and to access the platform’s features. The token is based on the Ethereum blockchain, thus making it an ERC 20 token.
Even more than a year after their ICO, Agrello has no working product whatsoever. There are some reviews on the web that claim that that it does, however there is no evidence of its existence. If you go on their site and click on “platform” you simply get prompted to fill in your email in order to get notified when the platform eventually launches. The team is mostly based out of Estonia with no one particularly well known. The whitepaper is very poorly formatted, full of unneeded buzzwords, fluff and advanced legal terminology, making it both a pain to understand and read.
Agrello is a quiet project to say the least. Not much has been done with development, which is a shame considering they raised the amount of money they did during their ICO. The platform sounds good on paper but the execution matters the most, and as far as we’ve seen, the last development update was during Q2 2018, which is just poor communication on the team’s side.
