Agrello ICO evaluation
“Operating at the intersection of the legal system, financial institutions and disruptive technologies, Agrello is highly dependent on the establishment of good industrial relationships with the off-chain world. We regard the work done by the Ethereum foundation on this matter as invaluable, and seek to be an active player in the field, lending our hand to promote this effort even further,” said Agrello CEO, Hando Rand.
Founded by a team of Estonian lawyers, Agrello can be described as an outcome of shared vision of information technology experts and high-level academics. The impression of changing the way people interact with each other and their interface with legal authorities will be changed forever with this shared vision of contracts that Agrello’s team is working on.
Moreover, as we can understand with the assistance of above statement, Agrello has planned to optimize its system for Ethereum ecosystems, nevertheless the same still remains compatible to work on other Blockchain networks. However, this is not all we would like to share with you while discussing Agrello. After all, there is a lot more we have to understand about the product and team working on it.
We are living in a world of constant updates, and undoubtedly Agrello team is here to accomplish one of its own. Aiming to serve as an AI powered interface, which will assist the consumer with the creation and management of smart contracts or smart agreements. The team is doing great in terms of joining the forces of their knowledge and Blockchain.
Understanding Agrello Smart Contracts
Creating partnership agreements or rental agreements will no more be a task, as all that the user has to do is practice drag and drop interface and create their own customized smart contract with the assistance of pre-defined templates. Moreover, for any prevailing conventional agreement, Agrello has prearranged to employ text-to-code compilers, which will support them in reading that conservative legalese and change it into Agrello markup language which is then used to interact with solidity (Ethereum smart contract language).
While these smart contracts cannot be necessarily called as legal documents, these do contribute to a contractual agreement between two parties, that’s the reason alongside these smart contract, contracts are written in natural language as well.
What Will Delta Token Support in Accomplishing?
While you might not get to understand with the assistance of whitepaper, However, from the conversation with the team, we got a better understanding about Delta. Delta (DLT) will be used as the mean of payment for the services provided by the network. Specifically, in words of the team “The token is used to remunerate template creators based on quality/usage and to start the self-aware agreement. It is also used to arbitrate between different Blockchain providers”.
Also while most might come up with a reasoning that, not much about the team has been disclosed, we find it pleasing to reveal that team members are easy to reach out to and they are willing to assist in understanding the product better as well.
Core understanding of Blockchain technology has assisted Agrello team in not just overcoming the hurdles one might face while implementing smart contract system, but has also supported in establishing and implementing the legal environment in more successful manner. As stated on Agrello’s website, we actually agree with the fact that Agrello is definitely not an impulsive decision, rather the same is the result of more than 16 years of research and understanding.
Hando Rand — Project Lead — we all understand that vision and inspiration are few pillars, which hold the success of any project, well Hando Rand believes in the same. As a point of fact, while working as a legal researcher at Tallinn University of Technology, it was his passion to bring law and technology together which enthused him for this project.
Alex Norta — Chief Scientist — an associate professor at Tallinn University of Technology and author of numerous acknowledged publications. Alex is one of many technical visionaries with 16 years of experience in smart contract research
Anton Vedeshin — Implementation Lead — PhD from Tallinn university of technology, a cryptography expert, Anton adds his experience to the company as CTO. Also, he holds the position of entrepreneur of his own company known as ‘3DPrintersOS’.
Addi Rull — Sales and Development — supporting in defining the future of law and technologies that focus on smart contracts and applied AI with Tallinn university of technology, Addi is actively contributing to the formation of Agrello with this experience in data protection and copy right law and intellectual property valuation. A lawyer by profession, Addi is also known as the editor of ‘The Future of Law and eTechnologies’.
Teddi Rull — Sales and Development — covering the areas related to mergers, acquisitions, antitrust and IP cases, Teddi plays a crucial role in the team of Agrello as an expert negotiator. Not to forget Teddi is best known for his entrepreneurial experience as the founding member at Valtech and as a lawyer at White & Case International Law Firm.
Margus Poola — Development and Finances — a man of many talents, Margus with a unique combination of experience in coding and private law, Magus holds the position of CFO (product quality).
Simon Tobies — Scientific Developer — an established java developer, Simon is a cryptographer and multi-agent- system development specialist.
With a total of 150 million DLT token (and no plan to create new), Agrello’s team has decided to distribute 90 million DLT via its ICO which will take place on July 10th, 2017 till August 9th, 2017 (token distribution date as well), with a minimum investment goal of 4,000 BTC. For the funds part, we have been told that funds will be collected or to be more specific will be stored in cold wallet. Also, Agrello’s team had designed a financial plan which will assist them with the breakdown of the funds.
Undoubtedly no one can explain product better than the team working on it, and same is the case with Agrello. As a point of fact, while having a conversation with ‘Margus Poola’ he even explained all the reasons which can clarify why this idea of AI smart contracts is worth investing. As per Margus Poola “Agrello BDI-agent powered self-aware agreements are ground breaking technology. This technology enables a wider range of users to access legally binding contract making. It is easy to use and you do not require a lawyer”. He even told us that not only they are ready with a user base already, they are in collaboration with several industry partners, which clearly shows that they are definitely moving ahead with a plan.
Business Model and Backing Technology
• The company is registered in Estonia.
• ANTON VEDESHIN has contributed in writing the token issuance contracts and actual token issuance software.
• With Ethereum as base Blockchain, Agrello has planned to expand their working to other platforms as well in future.
• Terms and conditions of the sale are published in clear language which can be seen once registered on the website, also anyone can reach out to them in the case of confusion.
- Working closely with Estonian authorities. Agrello’s team does KYC operations for customers and pays all taxes where applicable.
With a total of 3700 (and increasing) registrations on the website, all in all, 10 000 followers on social channels and with a status of over 250 000 times watched YouTube video we can say that the team of Agrello is succeeding in building a community around the concept of their product.
In fact, when asked, ‘MARGUS POOLA’ told us “We are known, lawyers. Some of us internationally — there is also academic community. We have published academic articles in books and newspapers. We are all connected to Tallinn University of Technology. Some of us part time lecturers, some do scientific research there. Our CSO Alex Norta has published a huge amount of scientific work on smart contracts. He is quite well known in Blockchain community as well as in other IT communities”.
Our Take On Project — Opening New Doors for Non-Coders and Non-Lawyers
Founded by a team of lawyers, technology experts and high-level academics, Agrello is all about changing the way people interact with each other. As we can make out from details served above, Agrello is basically a Blockchain based startup focusing on allowing the creation of smart contracts. Team members are well identified with links to their LinkedIn profiles, and easy to connect. And regular blogs and other means of communication assist team members in building a community around their product.