Blockchain-Backed Monax Platform Launched In Beta Version – For SMEs’ Legal Contractual Needs
Monax has officially unveiled a beta launch of its proprietary Monax Platform and effectively made it available for the commercial purposes, albeit in production stages only. This provider of developer-oriented digital legal infrastructure on an open technology platform designed it to suit SMEs with relationship-oriented workspaces.
Using the platform, SMEs will use this customer relations-oriented platform to take advantage of smart contracts and drive business while reducing risks. Some of the features that make it suitable for them some the ready-to-use tools that would help businesses to design, keep track of, and visualize contract details in a live and secure manner. By so doing, the enterprises will have used this digital legal infrastructure platform for their own betterment.
Monax Platform is developed on a decentralized and open-source platform called The Agreements Network. Using it, users can dynamically automate the overall running process of contractual obligations. They can also earn joint insight into how contractual relationships can be executed.
Ideally, this platform perfectly suits the needs of a constantly changing digital contact in a legal environment. Everything happens, including keeping visibility, all without any coding whatsoever.
It, however, comes in two components:
- The Monax Dealspace – this one gives the user and his/her team the freedom to subdivide and manage contractual tasks as a team. It also auto-repeats the same task, monitors contractual bonuses and processes the tasks dynamically. Everything it does, including auditing legal responsibilities, however, depends upon the rules governing the contract.
- The Monax Studio – it basically allows individuals to formulate and test workflows of obligations using a graph. This one is straightforward to use as it simply uses the ‘drag and drops’ feature.
The release of this public beta version follows the December 2018’s private beta launch. The earlier version has been of great help to dozens, especially on matters around their legal contracts. And as the co-founder and current CEO of Monax, Casey Kuhlman, said, the public beta release was a huge milestone.
He admitted that it was because of the platform that Monax succeeded in resolving issues that had not been adequately resolved by past technologies. A perfect example of the previous challenges, according to him, is how one can dynamically monitor commitments in real-time today, something that wasn’t possible in the legal relationships of the past.
However, one person who will be happy with Monax Platform is the founder and CEO of Social Solar, Donna Sanders. He said that this new invention would significantly boost their rate of generating clean energy while reducing the time required to manage energy contracts.
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