Rocket Lawyer, the digital blockchain-based platform that allows users to virtually manage all their legal needs, has come up with a product dubbed Rocket Wallet, aimed to deliver “legal contract execution and payments on the Ethereum Blockchain.”
Rocket Lawyer has partnership with over 300 companies across the globe including, Pinterest, Dropbox and Google. The San Francisco based online legal technology company, provides services including estate plans, legal health, incorporation, diagnostics and document review.
According to Charley Moore, Rocket Lawyer’s CEO, the platform’s mission is to be able to provide affordable and secure legal services to as many people as it can. He believes that with blockchain technology routine services such as commercial agreements will be done more efficiently and with less cost.
Project Rocket Wallet
Rocket Lawyer’s latest innovation, Rocket Wallet was demonstrated during the Ethereal Summit and aims to help leverage the Ethereum blockchain in the background for secure distribute ID and transaction authentication and allow users to create legally binding documents between two parties.
The new project basically involves using a tokenized system to add more trust and security to the transaction using a security deposit. Rocket Wallet can also be used by individuals and mainstream businesses to create transaction transparency. Also, with Rocket Wallet, users will be able to make legal contracts on the Rocket Lawyer platform and instantly transfer funds from parties to contracts via the secure digital wallet. According to Moore, the project Rocket Wallet is the first of its kind.
The project will however be deployed a little later as more testings are being conducted before full deployment. Moore says that the aim is to be able to scale with a ‘’delightful user experience’’, without which the project will not go live.
Rocket Lawyer’s senior vice president Mark Edwards stated that the Blockchain elements must feel “invisible” and that the platform must “keep it simple. People don’t need to know that there’s any Blockchain [thing] going on. Focus on the experience.” He believes the crypto community need a good lawyer and Rocket Lawyer is set to provide just that.
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