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Everyone has been in a situation when he/she was buying a car, apartment etc. and had to cope with time-consuming drafting of a contract, visit a notary and deal with high prices of these services.
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Everyone has been in a situation when he/she was buying a car, apartment etc. and had to cope with time-consuming drafting of a contract, visit a notary and deal with high prices of these services. Notary Platform, a Slovenian Start-Up company, offers a solution; it has developed a mobile application based on blockchain technology, which enables signing of contracts with the help of your smartphone.
Signing a car contract has never been easier. The seller and the buyer simply install the application on their smartphones and choose the car purchase contract from the existing templates. Both, buyer and seller enter their data and digitally sign the contract. The contract can thus be signed wherever, whenever, and without a third party/notary involved. The blockchain technology now offers its users the highest level of security possible. This technology enables the users to make a timestamp upon signing the contract, which cannot be changed and includes data on how and when the contract was signed. The Notary Platform users are guaranteed additional security by the user identification technology and the option of adding different media types, e.g. photos, sound and video. The combination of timestamp and user identification (Proof of Existence) makes the signed contract solid.
To better visualise the process, the team has created a short animation.
You can already download the beta version from their website. The application is for demonstrational purposes and runs on testnet.
The application is not intended only for individuals; companies are recognizing its potential also. The Notary Platform application can serve as an extension to the existing business systems. Namely, the application can be adapted to a specific use within a company regardless of its industry. The Notary Platform team is already developing various solutions for around ten Slovenian and international companies. The solutions encompass everything from product tracking, stock recording, and warranty signing, to managing relationships between distributors and customers.
While the Notary Platform team's vision is coming to reality and gradually becoming tangible, the team enhances their concept and brings together best possible technologies. One of the main elements to enable this is the NTRY token, created specifically for this purpose.
The members of the core team envision the NTRY Token as a utility token, intended to play two crucial roles in the Notary Platform ecosystem. In the early stages it should serve as a means of financing the purchases of the services, offered by the Notary Platform — such as timestamped and secure contract templates. Later on, as the Notary Platform matures and moves to its own blockchain network, it will also serve as a Proof of Stake, allowing the network to run smoothly and stay secure.
In order to gather the funds to take the project to the next level, the Notary Platform Company decided to offer its crypto token in return for a contribution in the form of Ether cryptocurrency. The initial coin offering (ICO) already started. You can whitelist yourself on their website.
Company name: Notary Platform
Company site: www.notary-platform.com
Company contacts: NTRY Solutions
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