- Exclusive interview. LegalThings One - blockchain for decentralized workflows BASE.INFO team has interviewed Ivan Golovko the VP Strategy and Investor Relations of LegalThings One project. Aug 3, 2018
LegalThings One allows enterprises and governments to orchestrate interorganizational workflows in a decentralized way, maintaining full GDPR compliance and data privacy.The story of LegalThings starts in 2014. Our document engine MVP progressed into a workflow engine. As time progressed our clients got bigger and the processes more important. Manipulating data we stored could potentially influence lives.As facilitators, we became the trusted third party. We realized that we shouldn't rely on trust alone. Adding layers of bureaucracy certainly might help, but it would kill productivity.Clearly, we should do better. By employing blockchain technology we could and would. This is how the LegalThings One platform came into existence.
Our mission is to provide technology to fight the bureaucracy, fraud and nepotism that plague so many organizations, industries and governments. We believe that privacy and transparency are not mutually exclusive and are willing to prove it.LegalThings One makes it easy to connect your own application to the blockchain, as each node expose a JSON REST API.At the hearth of the application layer is the event service. It handles all incomming events, delegating further processing to the application services.The application layer contains a number of services like the workflow manager designed to perform a specific task. Custom services may be added.Our global public blockchain is optimized for storing hashes. Each node indexes all hashes, so they can be easily verified.
LegalFling is a showcase for Live Contracts, demonstrating that an agreement doesn't have to be a 10 page document full of legal lingo that is drafted and enforced by lawyers.Our showcase reached a global audience in days on TV, radio, newspapers, magazines and all over the internet.We’ve studied high scalable distributed applications outside of the blockchain realm and ported that knowledge to the LTO blockchain.Nodes hold and handle many workflows simultaneously. Since every workflow has an isolated chain, the node can spin up more VMs to handle bigger loads.Only the nodes of the participant have access to the private chain. If required by law, the entire workflow with all related data can be destroyed.