Properly upholding legal agreements is critical to a successful startup business. Despite their importance, falling short in fulfilling these agreements is often a recurring obstacle for small and medium-sized companies.
Embracing the cutting edge in frictionless transparency and security, the Smart Startup Company wants to use smart contracts on a blockchain to solve this universal issue. Through their innovative model, SMRT will provide the smart contract on-ramp for startups and businesses seeking an efficient tool for legal contracts.
Using a model the company has coined “the vending machine,” Smart Startup Token (SMRT) dispenses templates of multipurpose smart contracts, which serve as programmatic legal documents.
Here is how the process will work:
Businesses will be able to choose a template, insert their SMRT token, and move forward to complete a contract with the option of engaging an advisor for assistance. In this way, SMRT is developing a niche at the intersection of legal agreements and blockchain-based software tethered to data support and AI.
Smart Startup seeks to assist businesses with four common contractual areas: business formation, intellectual property, funding and trading. In this way, the business will serve as a decentralized marketplace where simplified smart contract templates can be used to codify and enforce deals. In this ecosystem, the SMRT token is the access mechanism for a business desiring to complete a contract or engage with an advisor.
Officials with Smart Startup said that they chose the blockchain to assist companies in the creation of legal documents because the technology affords a much easier and cheaper route for handling sensitive business activities.
This novel concept is the brainchild of technology entrepreneur Simon Krystman, a passionate entrepreneur who has successfully set up a number of businesses in the digital and innovation space over the past 20 years.
Most recently, Krystman has focused
