OpenLaw makes developing blockchain-based applications faster, and the OpenLaw service is now available on Kaleido’s Marketplace. With OpenLaw, you can develop complex commercial transactions that incorporate blockchain technology, saving you time and reducing cost. OpenLaw handles the complex interactions with a blockchain, so you can focus on product development.
With OpenLaw’s First Draft, any commercial contract can be automated using their open source markup language allowing enterprises and users to create and transfer blockchain-based and tokenized assets in a legally compliant way.
Any agreement can reference one or more smart contracts and OpenLaw can send those transactions into a blockchain-based environment, all through an easy to use REST API. If you’re interested in exploring tokenized securities, tokenized real estate, tokenized media, or any other blockchain-based use case, you will be able to accelerate your development using OpenLaw’s team.
With the partnership between Kaleido and OpenLaw, spinning up blockchain-based applications and services has just gotten easier. You can set up a private blockchain on Kaleido in less than a minute and add an instance of OpenLaw from the Kaleido Marketplace with only a few clicks.
Using OpenLaw for blockchain-based projects, users can streamline their legal operations, create and manage tokens, and manage and control the execution of smart contracts. OpenLaw is also a natural fit with other Kaleido marketplace services, like ChainLink—to provide external data to Ethereum smart contracts via an Oracle network—further simplifying users’ ability to build a complete blockchain solution.
Aaron Wright, Co-founder, and CEO of OpenLaw, explains that “The private instance of OpenLaw on Kaleido gives enterprises the perfect place to effectively engage in commercial relationships in a compliant and efficient way while streamlining your legal operations.”
Steve Cerveny, Co-Founder and CEO of Kaleido adds that “Legal smart contracts are a high value ingredient relevant to many enterprise blockchain projects. Having OpenLaw in the Kaleido Marketplace brings that innovation to our users with click-button simplicity and helps us expand our ecosystem of services that seamlessly work together.”
Kaleido is the first blockchain company to provide a full set of tools and capabilities with all of the essential building blocks to create and customize complete enterprise solutions in a single, unified experience.