Development Quarterly Report: Q3 2024
Learn more about VAIOT’s Development Updates from Q3 2024 and their progress on Legal Torch and Decentralized Dispute Resolution System (DDRS).
Key Takeaways:
- VAIOT’s Q3 2024 development report showcases significant progress across its ecosystem, particularly in Legal Torch and DDRS, with major advancements in AI integration, payment systems, and user experience enhancements.
- Legal Torch, VAIOT’s flagship product, is nearing its launch in Malta by the end of 2024, featuring AI-powered contract editing, document management, and integration with services like DocuSign and Stripe.
- The Decentralized Dispute Resolution System (DDRS) has seen improvements in its core functionality, including voting mechanisms, AI-powered negotiation features, and user authentication via crypto wallets.
- VAIOT is forming a strong foundation for a new Decentralized Law (DeLaw) movement by offering a comprehensive suite of LegalTech tools with a mission to democratize legal services by leveraging AI and Blockchain.
As we reflect on the past months, it’s clear that 2024 has been a pivotal period for VAIOT, marking not just significant growth visualized by the market launch of the Legal Torch product but also a consolidation of our position as the frontrunner in the DeLaw movement with the development of Decentralized Dispute Resolution System (DDRS). These achievements have not only kept pace with the rapid advancements in legal technology but have set new benchmarks for the industry.
VAIOT: Defining the DeLaw Movement
VAIOT, with its innovative blend of technologies, is emerging as a leader in the Decentralized Law (DeLaw) movement. By creating a comprehensive ecosystem of LegalTech tools that address real-world challenges, VAIOT is setting new standards for what DeLaw can achieve.
At the core of VAIOT’s approach is the seamless integration of AI and blockchain, two transformative technologies that, when combined, offer unprecedented potential for the legal industry. With VAIOT’s proprietary machine learning algorithms and the newest versions of tailored LLMs like GPT and Llama, the company is developing innovative solutions that can understand and respond to complex business operations, legal queries and support contract creation as well as document editing and contract management. Meanwhile, blockchain technology ensures transparency, privacy protection, immutability, and security in all transactions and agreements.
VAIOT’s ecosystem exemplifies how DeLaw interconnects different technologies to make legal services more accessible, efficient, and secure.
Read more about VAIOT’s Ecosystem here!
VAIOT Development Update: Q3 2024
As we conclude another successful quarter at VAIOT, we’re excited to share the significant progress we’ve made across our platforms. Q3 2024 has been a period of intense development, testing, and refinement, bringing us closer to our goal of democratizing legal services with DeLaw. Let’s dive into the key developments that have shaped our journey over the past three months.
JULY 2024
July marked the beginning of a transformative quarter for VAIOT, with substantial progress made on our flagship products, Legal Torch and the Decentralized Dispute Resolution System (DDRS).
Key Achievements:
✅ Integration of AI Assistant into document editing process
✅ Implementation of new notification system
✅ Advancement in payment integration
✅ Conclusion of Architecture and Functional Spec for DDRS
Legal Torch Development
Our team focused on researching the market, defining the customer roadmap and testing the features implemented. Some of the most significant progress this month includes:
- Integration of Stripe payments (FIAT) with our Crypto payment module
- Development of subscription management features, including invoice downloads and payment history
- Creation of a new notification system for document changes and template updates
- Implementation of logic for seamless document editing resumption after interruptions
- Enhancement of AI Assistant to highlight key contract points and build a comprehensive legal document database
Our team made a significant breakthrough by integrating the AI Assistant directly into the document editing process. This feature now allows users to modify documents through the AI interface, streamlining document creation and editing.
Decentralized Dispute Resolution System (DDRS) Development
Our team actively completed the full blockchain architecture required to power the DDRS. Meanwhile, UX and UI developers explored innovative concepts for one of DDRS’ signature attributes — an AI-assisted negotiation module. As some ideas were tested, the backend team also concentrated their efforts on voting-related mechanisms, focusing on:
- Voting functionality architecture development
- Implementation of payment logic based on voting results
- Development of AI-powered negotiation feature for transaction creation
The DDRS saw important advancements in its core functionality, particularly in the payment mechanisms that form the backbone of our decentralized dispute resolution process.
UI/UX Enhancements
- Refinement of frontend designs to align with the latest UI versions
- Implementation of websockets for real-time data flow between frontend and backend
AUGUST 2024
August saw us build upon July’s foundations, with a focus on enhancing user experience and expanding our platforms’ capabilities.
Key Achievements:
✅ Implementation of AI-generated paragraph addition feature
✅ Completion of DocuSign integration proof of concept
✅ Optimization of Legal Torch’s infrastructure
Legal Torch Development
- Implementation of a system to divide contracts into ID-tagged fragments for precise AI-generated provision placements
- Development of an XML parser to convert contracts into AI-readable formats
- Preparation to host our Language Learning Model (LLM) on Azure
- Completion of both FIAT (via Stripe) and Crypto payment module integration
Another feature that Legal Torch’s team has been working on developing further is the history of changes made to documentation to easily spot modifications and recover past versions.
One of the most promising developments was the implementation of our AI-generated paragraph addition feature. This functionality allows users to describe desired content, and our AI Assistant crafts provisions that match the contract’s style and legal language.
Decentralized Dispute Resolution System (DDRS) Development
- Improvement of the dispute creation process based on UX/UI tests
- Development of the initial version of application’s landing page
- Implementation of customizable voter setups in dispute generation module
- Update of validation logic for crypto transactions
UI/UX Enhancements
- Addition of markdown support to our chat interface for more sophisticated text formatting
- Creation of a proof of concept for DocuSign integration
- Optimization of Legal Torch’s infrastructure with separate resources for staging, production, and development environments
- AI-assisted document management platform to have a overview of documents created and status control
SEPTEMBER 2024
In September, the team shifted focus to actively preparing our Legal Torch platform for the upcoming market launch in Malta. Most core functionality had been completed, so we centered efforts on refining outstanding features, conducting rigorous internal testing, and optimizing performance across the user experience and backend systems.
Key Achievements:
✅ Completion of mobile version development
✅ Advancement of internal template upload module
✅ Finalization of DocuSign integration
Legal Torch Development
- Refinement of mobile views for optimal user experience across all devices
- Completion of the internal module for uploading templates to the application (now at 90% completion)
- Finalization of DocuSign integration, including modifications to the iframe for consistency with our application
- Implementation of target STRIPE configuration
- Optimization of LLM models and hosting methods
- Development of AI functionalities:
- Suggesting related agreements
- Finding Red Flags in agreements
- First-class customer service
- Enabling data changes in contracts
- Further advances in the landing page have been done completing the UX design.
September marked a milestone — our mobile app achieved full functionality on schedule. With relentless testing, designers and engineers actively integrated front and back-end interfaces.
The result?
Seamless experience across all devices.
Decentralized Dispute Resolution System (DDRS) Development
- Implementation of user authentication via crypto wallets
- Design of screens for contract term presentations, optimized for both mobile and desktop
- Development of in-system transaction terms negotiations
Our team drove major progress for DDRS over the past month, after consolidating the user experience through UX and UI design.
UI/UX Enhancements
- Fine-tuning of user flow and UX/UI improvements
- Adjustable chat size with AI Assistant in the document editor
- Development work on the application’s Landing Page
Community Engagement, Feedback, and Collaborations
Throughout Q3, we’ve been actively involving our community and partners in our development process:
- Collaboration with lawyers to develop and refine AI-powered legal features
- Rigorous testing of the Legal Torch backend responses using the frontend
- Optimization of AI responses based on lawyer evaluations of sample texts
- Internal testing of user flow and UX/UI improvements
TimelessBeing, @Timeless_Crypto says: “Big development from $VAIOT! They’re pioneering the De-Law movement!.”
We’ve also received positive PR coverage in several tech and legal publications
Future Plans and Progress in Q4
- As we move into Q4, we’re incredibly excited about what lies ahead. Our immediate focus is on launching Legal Torch v1 in Malta, a milestone that represents years of hard work and innovation.
- We’re also gearing up to begin development on Legal Torch v2, which will include new features like Lawyer Supported Document Certification. These additions will allow us to combine the efficiency of AI automation with the expertise of legal professionals, ensuring accessible and low-cost legal support for all.
- In parallel, we’re preparing for expansion across Europe and globally, adapting our business model to different markets. This involves not only technical preparations but also extending our contractual database to ensure we can meet the specific legal needs of new jurisdictions. New markets will follow in 2025.
- At the same time, in Q4, we’re planning to finalize DDRS v1 and open it for community testing. DDRS v1 will enable service providers and ordering parties (clients) to create safe, blockchain-based transactions through DDRS’s transaction creation and negotiation module as well as allow VAIOT’s token holders to act as Jurors for disputes that arise for such transactions.
About VAIOT
VAIOT offers LegalTech and DeLaw solutions to democratize legal services by leveraging AI and Blockchain. Proudly, we are the first VFAA-regulated digital asset issuer.
VAIOT- AI and Blockchain for Legal Innovation.
Read our AI Legal Assistant Lightpaper here.
For more information about VAIOT, visit our website www.vaiot.ai, or join our Twitter , Telegram Community, Discord Server or Youtube Channel for continuous updates.
The VAIOT Website, Platforms, Solutions, and Services, and in particular VAI Tokens, are not offered for use and purchase to natural and legal persons having their permanent residence or their seat of incorporation in any of the restricted areas as listed in VAIOT’s Whitepaper, in particular: USA, Germany, Puerto Rico, US Virgin Islands, Canada, China, Singapore, Afghanistan, Central African Republic, Cuba, Democratic Republic of the Congo, Eritrea, Iran, Iraq, Libya, North and South Korea, Somalia, South Sudan, Sudan, Yemen, Zambia (Restricted Areas).
