ZirconTech has been previously talking with Clause.io in March in New York City, and we spoke about our blockchain usage based insurance application (BUBI) and the legal aspect.
We have seen ideas on taking a contract and derive a smart contract associated to the text, using natural language processing techniques.
It is interesting to explore how to take steps in the legal aspects of actual insurance contracts and moving into the blockchain and smart contracts.
Our BUBI product is developed on top of Hyperledger and a platform like Clause possibly could be used for payments or pricing. This could be driven from the user pain points in manually managing a contract like this. There are pain areas where the insurance companies can improve with contract automation. As a blockchain pioneer in Latin America, ZirconTech is always looking at the latest developments in technology in order to continue being a leading software application company. The development of blockchain based legal technology is a key element in the development roadmap of ZirconTech products and services.
Last May Clause smart legal contract experts Peter Hunn, Dan Selman and Matt Roberts Smart in the webinar “Legal Contracts: optimise or disrupt?” shared how to get started with digitizing existing or new contractual relationships and connecting them to enterprise data sources, blockchains or payment/invoicing systems.
Open Source standards from the Accord Project and Clause can improve the efficiency and quality of companies contractual relationships, or create new business models that can disrupt entire industries.
Now at the end of September, Clause announced the availability of the Public Beta.
This tutorial lets you use an Advanced Template without writing any code: https://clause.elevio.help/en/articles/52
Clause can connect contracts with payment mechanisms. Where Stripe is not available, we can develop custom integrations like in the case of Latin America with regional stakeholders.
As indicated by Dan Selman, you can use Clause to digitize any type of legal agreement and automate its operations by connecting contracts to other software platforms or to data about the real world from sensors and other sources.
The new features include being able to edit and upload your own Smart Clause templates and share them with other members in your company.