Birkirkara, Malta, Nov. 22, 2024 (GLOBE NEWSWIRE) — VAIOT, a company providing AI-driven Legal Tech solutions, announced the launch of its latest product, “Legal Torch,” in Malta (EU). Legal Torch is the company’s first step into an ambitious initiative to bridge Web2 and Web3 and drive broad blockchain adoption in the legal domain
egal Torch is an AI-powered SaaS platform that simplifies access to legal aid. Users can rely on it to support creation, management, and execution of legal documents with compliant AI assistance and knowledge base delivered in simplified language for user-friendly interactions. The platform integrates blockchain technology for protecting contractual privacy, offering secure contractual data storage and facilitating business transactions. Moreover, it aims to gradually incorporate other blockchain capabilities, including complex VAI Token utility.
aunching Legal Torch offers an initial look at VAIOT’s AI capabilities. The company’s proprietary AI system incorporates the newest versions of tailored LLMs like GPT and Llama. More importantly, it provides unprecedented customization and insights purposefully designed for the legal industry.VAIOT leverages AI and blockchain technologies to develop affordable and effective Legal Tech solutions within its Decentralized Law (DeLaw) Ecosystem. Its mission is to democratize access to legal support and allow people and organizations worldwide to use low-cost dispute resolution mechanisms.Legal Torch is bound to become the flagship product of VAIOT’s DeLaw Ecosystem. The company aims to integrate other functionalities of the ecosystem with Legal Torch, such as:
The Decentralized Dispute Resolution System (DDRS)
This product will provide fast, fair, and cost-effective dispute resolution to protect blockchain-based business transactions and related negotiations. It includes blockchain-based escrow for business deals and AI-assisted negotiation for quick and efficient resolutions. Users will also have access to decentralized jury selection and voting, with reward distribution for specialized jurors. The Juror functionality will be reserved for VAI Utility Token holders offering a wide range of perks and benefits to people engaging into DDRS.
VAI utility token use casesVAIOT’s
Decentralized Law (DeLaw) Ecosystem is supported by an utility token, VAI. The VAI token will have several use cases, including payment and fee reductions for holders (e.g. in Legal Torch), staking options, and various utilities in DDRS where e.g. only VAI holders will be able to access and participate in the dispute resolution as jurors.. Furthermore, users and customers will receive VAI tokens as cashback for purchases within VAIOT’s ecosystem.Z
K Contractual Privacy
This product will ensure privacy and verifiability in digital transactions, providing zero-knowledge proofs for data verification without disclosure. ZK Contractual Privacy will integrate smart contracts for automated verification and guarantee enhanced privacy in contract terms and personal information.VAIOT chose to launch Legal Torch initially in Malta before expanding its availability in multiple jurisdictions worldwide with EU markets being the short-term focus for the Company. VAIOT plans to launch Legal Torch in another EU country in 2025, providing localized contract templates and customization for simple and cost-effective access to legal aid.
About VAIOT
VAIOT is at the forefront of an ambitious movement that aims to bridge Web2 and Web3 through cutting-edge technological advances. The company has an extensive and rapidly growing portfolio of AI-powered Legal Tech and blockchain-integrated Decentralized Law solutions. Its goal is to provide automated legal support and contracts to cover various transactions.Legal Torch and the other components of VAIOT’s Decentralized Law (DeLaw) Ecosystem will combine seamlessly into an innovative tool for businesses and consumers in the legal sector. VAIOT relies on the expertise of legal professionals to ensure accessible and low-cost legal support for all.You can read more about Legal Torch here.You can learn more about VAIOT and stay up-to-date with its developments here: Website | X (Twitter) | Telegram | Discord | YouTube | Medium
Disclaimer:
The VAIOT Website, Platforms, Solutions, and Services, and in particular VAI Tokens, are not offered for use and purchase to natural and legal persons having their permanent residence or their seat of incorporation in any of the restricted areas as listed in VAIOT’s Whitepaper, in particular: USA, Germany, Puerto Rico, US Virgin Islands, Canada, China, Singapore, Afghanistan, Central African Republic, Cuba, the Democratic Republic of the Congo, Eritrea, Iran, Iraq, Libya, North and South Korea, Somalia, South Sudan, Sudan, Yemen, Zambia (Restricted Areas).
