Agrello, a legal technology startup developing “smart agreements” on the basis of AI orchestrated smart contracts today announced its plans to run its system on the Ethereum blockchain ecosystem while still remaining compatible with other blockchain stacks.
In its mission statement, Agrello declares that it aims to use its technology to allow users “without coding or legal skills to form legally-binding agreements on the blockchain” and to “streamline production processes through the automation of resource allocation.”
To do so, Agrello develops a graphical interface that allows users to assemble contracts, which are then compiled to code, managed, and executed on the user’s behalf by intelligent agents, based on BDI-software models.
Hando Rand, Agrello CEO listed several reasons for its choice to develop on Ethereum, among them the maturity of the Ethereum ecosystem and the continuous efforts by the Ethereum Foundation to overcome regulatory hurdles, stating:
“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.”
According to the announcement, Agrello will issue an Ethereum-based token in its upcoming ICO but plans to remain compatible with other blockchain environments, such as Metaverse, Antshares, Lisk, Qtum, RSK, Ethereum Classic, and NEM.
A simple smart contract example can be seen below: