Welcome to the VAIOT Tech Updates series, where we share insights from our development progress of the Easy Contracts application. Here, you can get more information on functionalities, features we are implementing, and how exactly the AI Legal Assistant will work.
This week’s Tech Update is slightly different than other ones so far. With the last sprint, our development team has concluded the first pre-planned development cycle. Hence, we would like to share with you the summary of everything that has been done thus far, as well as what is planned for the upcoming sprints managed by the new Product Owner of the Easy Contracts solution.
If you are unsure what the development process at VAIOT looks like, go to: https://vaiotltd.medium.com/vaiots-agile-development-process-2858a451ccf1, and read more about the methodologies VAIOT has implemented to improve the development processes within the company. There, you can find detailed information on roles in Scrum and how the tasks are being discussed and executed by the developers.
What has been done so far?
Below you can find a short summary of all functionalities that have been implemented so far and are fully working in the Easy Contracts web application.
Automated Contract Creation
In previous sprints, our Development Team has implemented the automated contracts creation mechanism to allow choosing the contract type from the admin perspective. It is possible to decide which type of agreement and what kind of structure (input options, adequate questions asked by the Easy Contracts Assistant) will be used in the negotiation process between a user and the AI Legal Assistant.
Dialogue with the AI Legal Assistant
At this stage of the Easy Contracts application development process, the full dialogue with the Assistant has been implemented by VAIOT’s dev team. The dialogue implementation included developing the full conversational cycle between user A and the AI Assistant. The user can provide the Assistant with the data necessary for the contract creation, such as party A and B’s details, the scope of services, schedules, etc. Such data is collected and used by the contract generation modules. So far, users can interact with the Assistant via a web browser.
The idea behind the AI Legal Assistant concentrates on the creation of agreements between two parties. Our Development Team worked on and eventually implemented the component for the generation of PDF version of Easy Contracts created through the conversation with the Assistant. Users are now able to prepare their own agreements through the convenience of voice commands. The work done allows for PDF files to be available for download after the payment is done, which is discussed later in this article. The target solution will allow to review and negotiate contracts between two parties. We will be focusing on that in the upcoming sprints.
Traditional card payment is available in the application. Party A, which started the agreement creation process, will be able to pay for the generated contract via card. This option is available at any time during the conversation with the Assistant. Once the payment is done, the user can download the contract and negotiate it with Party B.
Such card payment will also be subject to a VAI Payback, which is still in the process and will be further enhanced in the upcominig sprints.
So far, our dev team has been working on the backend mechanism of VAI Token utilities such as VAI Payback and VAI Payments. We will be further enhancing both functionalities in the upcoming months. VAI Payback module will allow users to earn some VAI returns from the transactions made via VAIOT’s intelligent channels. The bonus can be then used to purchase some services in VAIOT’s applications. Our development team worked on preliminary backend functionalities for the VAI Payment mechanism, which will now lead us to integration with the Easy Contracts application’s frontend.
As mentioned in the previous Tech Updates, VAIOT’s development team is working on smart contracts functionality that will allow for agreements created via the AI Legal Assistant to be automatically digitized and recorded as part of the smart contract. Such functionality will ensure a secure way to support the traditional version of the contract in terms of transparency and undeniability and will allow the introduction of oracles and self-executable contracts later in the future.
The Easy Contract Application will include two types of payments. So far, our dev team has implemented a traditional card payment module that enables payments for contracts generated via the Easy Contracts app. In the upcoming months, VAIOT will be focusing on the second option, which is a payment for services made in VAI or Ethereum (with other cryptocurrencies to follow).
To increase engagement and give our users a sense of identity and personal storage space, as part of future sprints, we will be working on applying the user account module. A user account will be identified by a username and will define the user’s attributes, including user’s personal data necessary for the contract creation, preferred payment method, etc. Easy Contracts application users will be able to save their preferred settings, keep the agreements created via the app in safe storage and always have access to the AI Legal Assistant without a need to log in every time they need to create a contract.