Market Launch Q4 2024: Legal Torch
The Vision Behind Building an All-In-One SaaS Platform and How VAIOT is Preparing for Growth Through Web2 and Web3 Integration.
Key Takeaways:
- VAIOT is launching its flagship product — Legal Torch, in November 2024, initially rolling out in Malta, followed by expansion into other EU countries in 2025. Long-term plans include global expansion in coming years.
- VAIOT is first deploying Legal Torch (legal documents creation and management Saas) to Web2 users & businesses, gradually introducing advanced Web3 functionalities such as DDRS and the VAI utility token to drive blockchain adoption in the legal domain.
- AI plays a fundamental role in powering Legal Torch. VAIOT’s proprietary machine learning algorithms and tailored LLMs like GPT-4 and Llama 3 provide unmatched customization and insights designed for the legal industry.
- To celebrate the market launch of Legal Torch, VAIOT will be running a giveaway, where participants can complete tasks to earn points and win VAI tokens.
Introduction
VAIOT is preparing for a major milestone — the launch of its flagship legaltech product — Legal Torch. Scheduled for the middle of November 2024, this rollout will make VAIOT achieve the first step to bridge traditional Web2 audience and Web3 decentralized technologies.
In this article, we’ll explore the capabilities of Legal Torch, the vision behind its development, and how our community can be a part of powering this decentralized legal evolution.
What is Legal Torch?
Legal Torch is an innovative platform to streamline the creation, management, and execution of legal documents while providing AI-driven legal knowledge base to users. Through its AI-powered Assistant and ready-to-use contract templates, created in collaboration with a giant consultancy firm — Grant Thornton (Malta division), Legal Torch makes drafting agreements quicker, more efficient and effortless for traditional users.
Delivering Real Utilities on Web2 and Web3
Legal Torch is purpose-built to deliver real utilities for both Web2 and Web3 users. By launching first on Web2 with its intuitive interface and AI-powered functions, Legal Torch will provide real-world services to individuals and businesses, demonstrating the practical value it offers to mainstream users. This will introduce individuals and organizations to the platform before gradually incorporating advanced blockchain capabilities.
As the flagship product belonging to Decentralized Law (DeLaw) Ecosystem by VAIOT, Legal Torch will gradually incorporate advanced blockchain capabilities, such as:
At the core of Legal Torch’s architecture is the VAI utility token, which serves as an integral part of VAIOT’s long term vision. While only VAI token payments will be available in the initial release, other token-related perks and functionalities of VAI will play a significant role in discounts and governance as the ecosystem matures.
With its user-friendly design, Legal Torch pursues the aim of global legal inclusion by bridging traditional markets with emerging decentralized solutions powered by the VAI utility token.
AI Plays a Fundamental Role in Delivering Legal Torch’s Experience
Our AI drives tremendous value throughout the Legal Torch platform. With VAIOT’s proprietary machine learning algorithms and the newest versions of tailored LLMs like GPT-4 and Llama 3, our AI system offers unmatched customization and insights specifically designed for the legal industry. Trained on legal datasets, the intelligent systems automate repetitive tasks and provide contextual guidance to streamline the user experience.
Some key AI-powered features include:
✅ Contract Summaries
Creates concise document summaries with key points, defined frameworks, and a professional yet accessible tone.
✅ Risk Analysis
Detects and highlights risks in user-added sections, explaining their possible consequences.
✅ Legal Knowledge Base
Assistant bases responses on Malta’s legal acts, providing precise explanations based on local regulations.
✅ Dynamic Form Support
Assistant retains user context, recognizes the current stage of form filling process and can assist by explaining complex legal terms or other ambiguities in the document.
✅ Legal Language Translation
Translates complex legal concepts into common language, making documents easier for users to understand.
✅ Contract Recommendations
Assistant suggests appropriate document templates based on the context of the user’s queries.
✅ Contract Editing Support
Allows changes in documents and guides users to selected sections of the form, providing convenience for personalization.
✅ Template Assistance and Personalization
Guides users through the document customization process, facilitating personalization to individual needs.
Q4 Market Launch in Malta
The initial launch of Legal Torch will be implemented in Malta in the middle of November, 2024. As a pioneering EU jurisdiction for digital innovation, Malta provides the ideal regulatory environment to initiate operations.
Through close collaboration with local firms and authorities, the platform will be tailored to Maltese legal and business norms from the start. This ensures frictionless adoption and gathering of valuable user feedback to refine the product.
From Europe to the World
VAIOT’s vision, however, extends far beyond Malta. With our trustworthiness confirmed by the VFA Issuer regulatory status and verified by CertiK we are prepared to launch Legal Torch in another EU country in 2025. Designed for accessibility, the platform seamlessly integrates traditional and emerging legaltech solutions.
Through continuous customization and the development of various contract templates, Legal Torch is planned to become the comprehensive global platform it aims to be — trusted in more jurisdictions.
Partnerships & Collaborations
By continuously involving local partners and tailoring to the local region’s needs, VAIOT aims to pursue rollout in strategically selected countries where demand and conditions allow for smooth integration into existing systems.
Currently, some of the key collaborations include Awakast providing support in the customization of LLMs, Afine executing penetration testing (security) of the application and its infrastructure, and Grant Thornton advising on regulatory aspects related to localized contracts.
AI with Awakast
VAIOT works closely with Awakast, an AI & software startup specializing in large language models, to ensure that the developed AI technology is robust and upholds the highest standards.
Regulatory Expertise with Grant Thornton
Grant Thornton, a leading advisory firm, provides expertise in ensuring that Legal Torch’s contract templates meet comprehensive regulatory standards in Malta.
Wayne Pisani, Head of Tax, Regulatory and Compliance at Grant Thornton:
“The collaboration between Grant Thornton and VAIOT represents our shared vision for advancing contract automation technology. Looking ahead, we are optimistic that Legal Torch will set new benchmarks for contract management solutions, enhancing efficiency, user experience, and accessibility…”
Legal Torch’s Business Model
Legal Torch’s business model is focused on long-term sustainability through a balanced approach. By offering both pay-as-you-go and subscription services, a broad segment of users can easily access solutions tailored to their unique needs.
VAIOT’s design principles — developing real-world applications centered around user satisfaction and integrated into Decentralized Law (DeLaw) Ecosystem, confirms its position at the forefront of innovation in the industry for years to come.
Giveaway coming soon… Join the Movement!
To celebrate the market launch of Legal Torch, VAIOT will be running a giveaway with tasks to complete. By participating in contests and other activities on social media, members can collect points which go towards winning VAI tokens.
Keep an eye on our official Twitter and Telegram channels for details on upcoming tasks that let you learn about the project while helping to spread the word.
Join the movement now and get involved in Legal Torch’s launch!
About VAIOT
VAIOT offers LegalTech and DeLaw solutions to democratize access to 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).
