COMPANY WHITEPAPER€¦ · As a fully decentralized platform, LegalBot allows instant payments with...

COMPANY

WHITEPAPERCopyright © 2018, LegalBot Crypto.

CONTENTS

01 Company Whitepaper

LEGALBOT TECHNICAL OVERVIEW

STATE OF CROSS BORDER TRANSACTIONS, AI, AND BLOCKCHAIN MARKET 04

16

LEGABOT TOKEN ECONOMICS

DIFFERENCES BETWEEN LEGALBOT AND SIMILAR PROJECTS 23

27

APPENDIX 32

02Company Whitepaper

Cryptocurrency market is completely unpredictable but there is nothing better than real industrybehind the Blockchain. It is a decentralized future technology which can lead to world economytransformations. Thriving projects in the industry will be of benefit to stakeholders and investors.

International business laws and regulations are quite stringent; several companies involved ininternational trade inevitably face substantial hurdles when it comes to cross-border exchange ofgoods and services. In turn, companies are unwilling to expand their businesses overseas deprivingprofits and reaching new customers.

LegalBot intends to develop an ecosystem, which will help companies to efficiently draft smartcontracts for strengthening cross border business transactions. The ecosystem is built on top of‘Ethereum platform’ and ‘smart contracts’ and powered with Artificial Intelligence to assistcompanies in all kind of legal matters. Essentially, it offers legal smart contracts service to mostindustries that are interested in international business transactions. Examples of internationalcontracts provided by LegalBot are international turnkey contracts, sale of goods contracts,intellectual property contracts, non-disclosure agreements, mergers and acquisitions agreements,distribution agreements, purchase and sales contracts and much more.

With the power of artificial intelligence and our unique user-friendly interface, LBOT, an underlyingvalue token, collects information from its clients, perform automated global search of relevantcases, and carry out due diligence review, and presents efficient and error-free legal smart contractwith ultimate goal in strengthening and enhancing international business transactions.

LegalBot is set to revolutionize the legal industry by introducing a new Global Ecosystem that isbuilt to provide credible blockchain based masternodes platform that would facilitate internationalsales of goods, non-disclosure agreements, and license agreements as lawyer and corporate legalpersonnel.

As a fully decentralized platform, LegalBot allows instant payments with its LBOT token on theplatform and supports masternodes and Proof of Stake Algorithm. LBOT will be used as an instantpayment on the LegalBot platform. This will increase the security of its client’s digital paymentcredentials, protecting the interoperability of the ecosystem while preserving and sustaining itscommunity.

ABSTRACT


LegalBot is set to be “World's First AI Smart Contract Lawyer”. It is built with an aim to help businesses in drafting the legalsmart contracts for cross-border businesses. To facilitate its customers and enhancing the global reach, LegalBot isintroducing its underlying value token i.e. LBOT. LBOT is based on ‘Masternode’ concept powered with ‘Proof of Stake’Algorithm.

The revolution in technology sector lead by Blockchain in association with Smart Contracts isdisrupting almost each segment and will fundamentally change our societal systems andstructures. The distinguishing feature of blockchain such as decentralization will significantlyredistribute power and wealth. This distributed ledger technology has strengthened various sectorslike finance, education, gaming, event management, supply chain management, distribution andmany more. Legal sector, even contract lawyers (corporate lawyers or business lawyers) will alsobe impacted largely.

Artificial Intelligence is also adding value to the Legal Space. It is empowering the most technologydeprived legal practice with variable robotic intellectual and precise insights of data. This willconverge the Legal fraternity to transform, by using the most modern technologies of today such asArtificial Intelligence empowered by Blockchain.

LegalBot is leading this front by integrating Legal domain with Artificial intelligence and blockchaintechnology.

EXECUTIVE SUMMARY


STATE OF CROSS BORDER

TRANSACTIONS, AI, AND

BLOCKCHAIN MARKET

The global B2C cross-border e-commerce market willballoon in size to $1 trillion in 2020 from $230 billionin 2014, according to a report from global consultingfirm, Accenture and AliResearch, Alibaba Group’sresearch arm.

01


The global B2C cross-border e-commerce market will balloon in size to $1 trillion in 2020 from$230 billion in 2014, according to a report from global consulting firm, Accenture and AliResearch,Alibaba Group’s research arm.

In the report, “Cross-border B2C E-commerce Market Trends,” researchers forecast that thisincreasingly popular form of online shopping—entailing consumers taking to the Internet to buyproducts directly from overseas retailers—will see compound annual growth of 27.4 percent overthe next five years, double the rate of worldwide B2C shopping as a whole. By 2020, more than 900million people around the world will be international online shoppers, the report says, with theirpurchases accounting for nearly 30 percent of all global B2C transactions.

Cross-border online shopping is gaining popularity particularly in emerging markets, whereconsumers can find it hard to find affordable imported products in local shops. In many cases, theonly alternative is shopping on websites in other countries or from marketplaces such as AlibabaGroup’s Tmall.com, a Chinese B2C website that hosts merchants from around the world.

According to the Accenture-AliResearch report, China is expected to drive much of the growth ofcross-border e-commerce in coming years because the country’s large and growing middle class ishungry for authentic, good-quality foreign products. China’s middle class today is equal in size tothe entire U.S. population and is expected to reach 630 million by 2022, according to managementconsultancy McKinsey.

As depicted on the graph below, the global cross-border B2C market will record compound yearlygrowth of 27.4 percent from 2014 to 2020.

THE MARKET INSIGHTS

OF CROSS BORDER TRANSACTIONS

Source: smallbusiness

Cross-border B2C transaction as % of total B2C transactions

Transaction volume of global cross-border B2C (in USD billions)

Transaction volume of global domestic B2C (in USD billions)

Compound annual growth rate

Global Cross-border B2C Volume 2014-2020

2014 2015 2016 2018 2019 2020

1,3

56

233

1,5

65

304

1,7

75

400

1,9

42

530

2,0

93

676

2,2

34

826

2,4

00

994

2017

14.6%16.3%

18.4%

21.4%

24.4%

27.0%

29.3%+27.4%


Artificial intelligence (AI) has established its way in the global market as an invention of imaginationand has firmly placed itself as a necessary and efficient business solution to benefit variousbusinesses and industries.

AI can be regarded as the capability of machines to think, learn and understand in a way that isidentical to human beings. This shows the possibility of simulating human intelligence by usingcomputer systems. Thus, the future of artificial intelligence promises new era of disruptions, wherehuman creativity and innovation is strengthened by speed and accuracy.

The artificial intelligence market is expected to be worth $16.06 billion by 2022, according toresearch report on artificial intelligence. This market is expected to grow at 62.9% compoundannual growth rate (CAGR) from 2016 to 2022 (Research and Markets, 2017).

When it comes to future growth, few industries have the potential of AI. In 2016, the AI market wasworth just under $644.0 million. In 2017, that number is expected to soar by almost 95% to $1.25billion. By 2025, the AI market is forecast to be worth $36.82 billion; that represents an eye-wateringcompound annual growth rate (CAGR) of almost 57%.

THE OVERVIEW OF GLOBAL AI MARKET

Chart Source: https://www.ubs.com/

Source: “Revenues from the artificialintelligence (AI) market worldwide,from 2016 to 2025,” Statista, lastaccessed April 24, 2017.


“Blockchain, a technology that began with Bitcoin, is enjoying a blossoming beyond cryptocurrencyand the transfer of money, to architecture able to support many types of transactions, from loggingan event, to signing a document, to voting, to allocating energy between parties, and far beyond,”says principal analyst Jessica Groopman.

Groopman adds that, in the last year alone, over a hundred financial institutions, more than twodozen governments, and countless corporations and venture capitalists have invested more than $1billion into blockchain startups. “But through the fog of hype,” she says, “lies the sobering realitythat this is a market of extreme nascence and fragmentation. Despite significant hurdles, however,blockchain has the potential to impact a wide variety of industries, most notably finance,manufacturing, healthcare, energy, and insurance, among many others.”

BLOCKCHAIN TECHNOLOGY & CRYPTOCURRENCY MARKET

Blockchain lead Cryptocurrency market remained consistent over past several years but in therecent past, it has witnessed numerous fluctuations with a substantial growth in the market cap as awhole. On January 1st 2016, the total Cryptocurrency market cap was “just” around US$18billion. In June, after months of steady growth, it surpassed the barrier of US$100 billion and istouched all-time highs.

The Cryptocurrency market cap now sits comfortably approx. the US$750 billion mark(05.09.2018), according to CoinMarketCap.com. That shows how the Cryptocurrency ecosystemhas evolved in 2017 alone and the tremendous rate at which it is growing.

Tractica’s report, “Blockchain for EnterpriseApplications”, examines market trends,technology issues, key use cases, and industryplayers in the rapidly evolving enterpriseblockchain sector. The study includesgranular market sizing and revenue forecastsfor 29 use cases spanning 19 industries,segmented by implementation category andworld region, for the 10-year period from 2016through 2025. The report also includes in-depth profiles of 22 key industry players.


The legal industry is experiencing deep-seated disruption in terms of technology. The companieswho wish to do cross border business, demands efficient legal services, and cost-effective prices.Due to stringent international laws and regulations, several companies are unwilling to expand theirbusinesses overseas, which in-turn deprives them in boosting profits and expanding their businessin global markets.

These key drivers drive the need to change the shape of the legal industry through smarttechnology. Blockchain technology with smart contract has tremendous potential to increaseinternational business efficiency, reliability and minimizing the cost of automation of businesstransactions.

The vision of LegalBot is to introduce a new ‘Global Ecosystem’ that is built to provide credibleblockchain based masternodes to facilitate international sales of goods, non-disclosure agreements,license agreements and much more as lawyer and corporate legal personnel.

It utilizes methodologies that encourage and support infrastructure flexibility. We have a uniquecombination of Domain Expertise, with inbuilt Artificial Intelligence on top of Blockchain Technology.We plan to provide a comprehensive smart-contract capability for seamless execution of projectswith full transparency. The team is focused on assisting clients to handle increased customerdemands without incurring substantial costs. Our technology is our distinguishing factor in thisindustry. We are the company with the creative techies.

OUR VISION


LegalBot aims at developing a global ecosystem for individuals, business owners andinvestors, based on Blockchain and artificial intelligence technology. The platform intends todevelop an extensive smart-contract facility for enhancing the transparency during the execution ofprojects. Our mission is to present reliable and transparent Blockchain-based masternodes thatensure easier and faster smart contract transactions such as international sales of goods,nondisclosure agreements and much more as a lawyer.

LegalBot strives at resolving the issues of international agreements, friction of interest, security, lackof transparency and time delays by consolidating best solutions and removing existing problems.Our mission is to create a people-powered platform that makes the ecosystem accessible tothe stakeholders and potential investors.

OUR MISSION

OBJECTIVES


Accelerating the mass adoption and

trustworthiness of cryptocurrency market with our efficient and

robust ecosystem.

Continuous engagement in research and

development so as to improve and maintain our

vibrant ecosystem.

Continuous recruitment of high performance

team.

Continuous increase in LBOT values.

Engaging in consistent market expansions.

Continuous engaging in business partnership for

more awareness and business expansions.

Openness to customer feedbacks with the aim

to improve customer satisfaction and retention.

International business laws and regulations are quite stringent; several companies involved ininternational trade inevitably face substantial hurdles when it comes to cross-border exchange ofgoods and services. In turn, companies are unwilling to expand their businesses overseas deprivingprofits and reaching new customers.

International businesses have considerable risks associated with them and all parties involvedneeds to use substantial resources in producing and sustaining international contracts. Table belowitemized the major problems Legalbot aims to solve regarding legal contract in cross borderbusiness transactions.

PROBLEMS WE INTEND TO SOLVE

In the process of doing cross border transactions, lack of guidance is a primaryissue. Companies get scattered approach for how to draft the agreements, whom tocontact, and how to find legal personnel for the international business contracts.

Lack of Guidance

Security of the data exchanged between different parties is another majorchallenge. Data security refers to keeping your data protected from cyber-attacks,accidental loss and unauthorized access. For instance, data transfer through filecould cause problems of data loss, information leakage, or other security issues.

Data Security Issues

Involvement of lot of people in execution of any traditional cross border tradecontract—from forwarders and customs officers to employees of cargo companies,leads to the risk of fraud or error.

Risk of fraud or error

Reliability of payment protection between the parties involved, especially whiledealing in international exchange of goods and services, is another key issue. Ifproperly executed, reliability can benefit businesses at every phase, from initialcustomer interactions to attracting repeat business.

Business reliability issues

The traditional technologies centered the access of various applications dealing incross border transactions to the top businessmen only. In a centrally controlledSystem, all the access requests are handled by a single point of control. Thatauthority has the right to accept or reject the requests. The main limitationassociated with central access control unit is that the failure of central unit can leadto degradation of whole system performance.

Centralized access control


Finding suitable lawyers that would find the right contracts and make the draft forvarious types of agreements is time-consuming and cost-incurring process.

Time delays and costly processes

The execution of contracts between international parties are knowingly kept non-transparent. The other stakeholders involved in these transactions merely knowwhat is happening in between.

Non-Transparent execution processes

International business laws and policies are quite complex. Dealing with thoseregulations is time-consuming and burdensome.

Stringent laws and policies of international business


LegalBot, the world’s first AI based Smart Contract Lawyer, is set to transform the legalindustry and cross border business.

LegalBot is an evolution of the Blockchain that integrates smart contracts and Artificial Intelligenceto drastically improve the performance and capabilities of cross border businesses. It is adistributed ecosystem specifically designed to carry out legal services to the next level.

LEGALBOT TECHNOLOGY

LegalBot offers legal smart contract services to most industries that are interested ininternational business transactions. With the power of artificial intelligence and our unique user-friendly interface, LBOT collects information from its clients, perform automated global search ofrelevant cases, and carry out due diligence review, and presents efficient and error-free legal smartcontract with ultimate goal in strengthening and enhancing international business transactions.

To simplify the complexity of cross border business, LegalBot introduces masternode tokens(LBOT), based on Proof of Stake Algorithm (PoS). It securely executes the transactions betweeninternational parties through the adoption of Blockchain Payment System.

AI POWERED

BLOCKCHAIN SECURED

Blockchain Payment

System

LBOT Mesternodes Proof of Stake

Decentralization


The LegalBot business model is relatively simple, easy to understand, and straightforward toexecute. The model is designed to every business specification. It addresses what anycompany, individual or business owner may need while dealing with cross border transactions.

BUSINESS CONCEPTUAL MODEL

It works on a very simple principle of catering the need of our clients through the use of ArtificialIntelligence, Blockchain Technology and Smart Contracts. The steps are enumerated below;

Step 1 Clients come to our platform and a virtual robot (LegalBot AI Engine) will collect theinformation as per the details of your contract.

Step 2 The robot will automatically analyze the details provided by you.

Step 3 On the basis of the data analyzed by the robot, an appropriate draft will be prepared.

Step 4 If all your business needs are met then both the parties (you and your internationalcounterpart) will digitally sign the smart contract.

Step 5 The signed contract will be legally binded and will be securely stored on the blockchain.

Collect Information Review & Search

Relevant Case

Bu

sin

es

s C

on

ceptu

al M

od

el

ARTIFICIAL INTELLIGENCE

CLIENT

POOL

SMART

CONTRACT

Legal Bot AI EngineDrafting the

Contract

International

Counter Part

Storage

Contract Address

BLOCKCHAIN


LegalBot, the international business smart contract lawyer, is applicable in most of the industries,especially those that are interested in international or cross border business transactions servicessuch as International sales of goods, non-disclosure agreements, license agreements and manymore.

OUR SERVICES

Intellectual property contacts refer to a license that can either restricts or allows theuse of, access to, or creation of intellectual properties. The intellectual propertiescan be categorized as copyrights and industrial properties such as architecturaldesigns, industrial designs, geographical indications, patents for inventions,trademarks, and other legal interests that are protected under the law of the State.LegalBot platform intention is to help our clients to adequately draft and review thiskind of contracts which can be digitally signed, where a copy would be stored onthe blockchain for future reference.

Intellectual Property Contracts

The international distribution contract is a framework agreement, which means thatit establishes general obligations for each of the parties over a lengthy period and issupplemented by general conditions of sales which are often annexed to thecontract in order to specify the products and/or services in question, prices, anddelivery arrangements.

International Distribution Agreements

A Turnkey Contract is one under which the contractor is responsible for both thedesign and construction of a facility. These types of contracts are also known asEPC Contracts (Engineering, Procurement and Construction).

Turnkey Contract

Mergers and acquisitions are complex and involve transitioning thousands ofcontracts. Our Ecosystem helps in preparing these unique agreementsautomatically.

Mergers and Acquisitions Agreements

A contract of sale is a legal contract. It is a contract for the exchange of goods,services or property that are the subject of exchange from seller (or vendor) tobuyer (or purchaser) for an agreed upon value in money (or money equivalent) paidor the promise to pay same.

Sale of Goods Contract

Our Ecosystem intends to help in the documentation of various Non-Disclosureagreements (NDA) OR Confidentiality Agreement (CA).

Non-Disclosure Agreement


LEGALBOT TECHNICAL

OVERVIEW

Blockchain, the modern age technology, aiming to revolutionize theway businesses are done worldwide. Blockchain is a distributed,decentralized and open ledger technology that can efficiently andsecurely record transactions between two parties in a verifiable andpermanent way. As a distributed, tamperproof ledger, it eliminatesthe need of middleman, reduce costs, and enhance speed and reach.

02


Blockchain, the modern age technology, aiming to revolutionize the way businesses are doneworldwide. Blockchain is a distributed, decentralized and open ledger technology that canefficiently and securely record transactions between two parties in a verifiable and permanent way.As a distributed, tamperproof ledger, it eliminates the need of middleman, reduce costs, andenhance speed and reach. Blockchain technology is enriched with the following key features

WHY BLOCKCHAIN

Shared: DataSharing allows allthe parties to haveaccess to ledgerand its transactions.

Distributed: Theblockchain is a peer topeer-based technology.This makes sure thathacking or changing ofdata on one computer isnot going to affect thewhole system.

Encrypted: The data inthe blockchain isencrypted and securedby a sequence of privateand public keys,ensuring that outsiderscannot view the data onthe chain.

The decentralization of data and the efficacy of Artificial Intelligence will empower LegalBot toexpand the cross-border businesses in a more rapid manner than ever before.


It is indisputable that the two crucial technologies that are leading the pace of innovation andtransforming lots of industries in recent time are blockchain and artificial intelligence. Although eachtechnology has its own independent technical intricacy as well as business implications, butcollective use of the two technologies can profoundly cause a radical shift in every industry.

Data kept on a blockchain is thoroughly secured due to the built-in cryptography concept in its filingsystem. Blockchain databases hold their information in an encrypted state. This means that only theprivate keys must be kept safe –a few kilobytes of data – in order for all of the data on the chain tobe secured.

Artificial Intelligence has a lot to offer in terms of security as well. The emerging branch of ArtificialIntelligence is involved with the integration of algorithm that is suitable of working with processeddata that is still in an encrypted state. As any part of a data process which involves exposingunencrypted data represents a security risk, eliminating these events could potentially assist tomake things much safer.

BLOCKCHAIN AND

ARTIFICIAL INTELLIGENCE INTEGRATION


LegalBot platform uses Ethereum. Ethereum is a blockchain-based distributed computing platformthat runs smart contracts. The main reason for using blockchain technology is to provide adecentralized infrastructure that is stable and secure for all the involving parties.

Ethereum is a readable, writable, and programmable ledger accessible to any individual with anInternet connection. Thousands of users all over the world run software that maintain the ledgerand these users are financially incentivized by the system itself to do so. Some of the features ofEthereum blockchain are;

ETHEREUM – ERC 20

Immutability

Data is protected and cannot be altered by a

third party.

Corruption &

tamper-proof

Applications are based on the principle of consensus, making

censorship impossible.

Secure

With no central controlling authority and

secured using cryptography,

applications are well-protected against hackers and fraudulent activities.

Zero downtime

Applications never go down and can never

be switched off

Smart Contracts are the simplest way to uniformly distributeprofit shares. It also encourages the scenario of acceptingcryptocurrencies as a means of payments. Smart contractsoffer the technology to evolve to a digital system linkingtokens to a real-world asset.

SMART CONTRACTS INTEGRATION

These are called Smart Contracts because these are automated contracts. They are self-executingwith specific instructions written on its code which get executed when certain conditions are made.In other words, they are something like a program to run on blockchain for a specific purpose ormeaningful actions. The purpose of executing smart contracts could be more specific in terms ofagreement between two parties. In LegalBot, every single agreement done between two partieswill be signed through smart contracts.

Therefore, the rules for how the contract is being evaluated are the same for both sides. Smartcontracts aim to provide security superior to traditional contract law and to reduce othertransactional and administrative costs associated with contracting. They can eliminate the need ofwriting a new contract each time as the smart contract technology can be used to execute anumber of terms of a contract between two parties automatically.

Smart contracts provide users with automated, low-fee transactions that provide a higherlevel of security than those that rely on standard localized databases.


Masternodes refers to a computer wallet that keeps the complete copy of blockchain and can beused for features like direct send, instant transactions or private transactions, anonymoustransactions, and more. Emerging cryptocurrencies use a bonded validator system known asMasternodes to provide services and verify transactions on the blockchain. Masternode coinsoperate similarly to Bitcoin and other cryptocurrencies but with one notable difference; they utilizemasternodes as opposed to full nodes. As a reward for providing these valuable services to thenetwork, masternode operators are compensated in the form of block rewards, similar tocryptocurrency miners.

Masternodes are a sequence of servers that support a blockchain’s network. They are responsiblefor authorizing certain kind of services that miners within the proof of work cannot realized.Blockchains are shielded against network attacks by masternodes similar to that of traditionalProof-of-Stake (POS) algorithms.

LBOT will have a Masternode System when LBOTChain is ready. To be able to own a node,Holders must ensure to have sizeable amount of LBOT tokens.

MASTERNODES FEATURE INTEGRATION

LBOT will have its own blockchain called LBOTCHAIN and would adopt Proof of Stake protocol.By holding adequate LBOT coins in LBOT wallet, you can build wealth and preserve that wealthwhile receiving LBOT coin rewards daily. The PoS protocol would enable LBOTCHAIN network toachieve distributed consensus. With this proof of stake mining algorithm, a person (node) inLBOTCHAIN can participate in the mining process by staking a specified amount of their LBOT coinsfor validating a new transaction.

Proof of Stake consensus mechanism doesn’t require specialized and expensive hardware to run.You only need an internet connection and a functional computer setup. Anyone with enough tokensto stake can validate transactions on the network. Proof of Stake is more energy efficient andenvironmentally friendly than Proof of Work regarding power consumption.

LBOTCHAIN (LEGALBOT-BASED OWN BLOCKCHAIN)


LegalBot is leading the way to innovate and enhance the security, speed and cost of cross-borderpayment system. LBOT coin will be used as an instant payment on the LegalBot platform. By sodoing, the digital payment credentials of its clients will be protected.

The parties involved in the business transactions through LegalBot platform shall get into the smartcontracts to protect the interest of each party. As soon as the service is delivered, the smartcontract will release the payment (LBOT coin) to the service provider. The LBOTCHAIN basedpayment system will eliminate completely the risk of fraud and improve data security.

LEGALBOT BLOCKCHAIN PAYMENT SYSTEM


LegalBot App is the perfect and convenient business partner to draft legal smart contracts for yourcross-border business transaction needs. The App facilitates a cross border business transactionsbetween parties with a smart, and easy to use user interface. Now, legal services are made easythrough a smartphone app, where clients can get access to our services at anytime and anywhere.

LEGALBOT (LBOT) APP

Easy Drafting of Smart Contracts: LBOT App enables users to create smart contract drafts withinfew seconds. It provides users with extra flexibility when they need quicker solutions. Contracts canbe made remotely from anywhere in the world if the users have LBOT app on their smartphones.

Instant payments: LBOT App allows instant payments with its LBOT tokens on the platform. Withthe LBOT App, payment can be done instantly and securely from a particular account to thedestination account.

Secure Wallet: LBOT App has a default wallet that can securely store user’s LBOT tokens. With itsvault integration, it gives the users extra security for storing their LBOT tokens.

LEGALBOT (LBOT) APP FEATURES


DIFFERENCES BETWEEN

LEGALBOT AND SIMILAR

PROJECTS

Someone might think, as one is reading this document: “Why would Ineed this – there are a dozen other useful and familiar applications inthe market.” No other application has automated the process ofgathering details of your contract and drafting the appropriateagreement for your business needs, through virtual robots, butLegalBot did it!!

03


LegalBot ContractVault Lawgeex RobotLayerLisa

Artificial Intelligence integration?

YES NO YES YES

Masternodesintegration?

YES NO NO NO

Proof of Stake capability?

YES NO NO NO

Smart Contracts capability?

YES YES NO NO

Blockchain-Payment System integration?

YES NO NO NO

Token Swap to its own Blockchain?

YES NO NO NO

Automated Global Search possibility?

YES NO NO YES

Instant Transactions possibility?

YES NO NO NO

Private Send possibility? YES NO YES YES

Someone might think, as one is reading this document: “Why would I need this – there are a dozenother useful and familiar applications in the market.” No other application has automated theprocess of gathering details of your contract and drafting the appropriate agreement for yourbusiness needs, through virtual robots, but LegalBot did it!! That is the essence of the project:LegalBot is the world’s first artificial intelligence smart contract lawyer that would assist in anefficient draft of every legally binded smart contracts for smooth cross-border businesstransactions.

DIFFERENCES BETWEEN

LEGALBOT AND SIMILAR PROJECTS

COMPARISON WITH OTHER

MAJOR LEGAL SERVICES PLATFORMS


ADVANTAGES AND KEY

BENEFITS OF USING LEGALBOT PLATFORM

Proof of Stake Safe Token Swap Secure Payments

Reduced Legal

Risks

Decentralised

AccessGlobal Business

Reach

Transparent

Execution

Efficient

Contracts Drafting

Time Saving &

Cost Reduction


ADVANTAGES AND

KEY BENEFITS FOR LBOT HOLDERS

1,500,000,000 LBOT Tokens (15% of the Total Token Supply) has been allocated forAirdrop and different Bounty Programs.

Free Airdrop, Bounty Programs and Bonus System

LBOT will have a masternode system when LBOTChain is implemented accordingto our roadmap. In order to be eligible to own a node, LBOT holder must have asizeable amount of LBOT which will be announced as soon as LBOTChain is ready.

LBOT Masternodes

LBOT will have its own blockchain and would adopt PoS protocol. By holding asubstantial amount of LBOT coins in LBOT wallet, you can build wealth andpreserve that wealth while receiving LBOT coin rewards daily.

Proof of Stake (PoS)

LegalBot is a fully decentralized platform that operates and finances itself via coinreward system.

Decentralized

LegalBot team is working hard to ensure that all LBOT token holders will safelyswap their ERC20 LBOT tokens to LBOT coins on LBOT own blockchain.Announcements will be made regarding the token swap process in the nearestfuture.

LBOT Token Swap

LBOT will be used as an instant payment on the LegalBot platform. This willincrease the security of its client’s digital payment credentials, protecting theinteroperability of the ecosystem while preserving and sustaining its community.

Payment System


LEGABOT TOKEN

ECONOMICS

We intend to be very transparent about token distribution andownership. We strongly believe that cryptocurrencies are going todisrupt the global financial future and we are committed to buildinghigh-quality services.

04


We intend to be very transparent about token distribution and ownership. We strongly believe thatcryptocurrencies are going to disrupt the global financial future and we are committed to buildinghigh-quality services.

LBOT TOKEN ALLOCATION

5%10%

15%

20%

50%

Airdrop

Bounty Programs and BonusSystem

Company Founders, Mgmt,and Advisors

Future Development Fund,

Public Fund Allocation

Bounty Programs

1,000,000,000 LBOT Tokens (10% of the Total Token Supply) has been allocated mainly for BountyPrograms and Bonus system. The following Bounty Programs are available;

20%

20%

20%

25%

10%5%

Translation and Moderation

Blog article and Video

Signature Campaign

Social Media (Facebook andTwitter)

Referrals

Miscellaneous


Public Fund Allocation:

The fund realized during public sales of LBOT tokens either through exchanges, ICO sales or directinvestment will be used solely for the development and expansion of LEGALBOT project. Thisincludes Research and Development, Marketing expansion and promotion, Admin and Operationexpansions, Legal, Security, and contingency reserve.

40%

25%

9%

10%

10%6%

Research & Development

Marketing expansion &Promotion

Admin & Operationsexpansions

Legal & Compliance

Security

Contingency


Due to the integration of Blockchain and Artificial Intelligence (AI), LegalBot is a revolution in theworld of Legal Industry and Cross Border Businesses. it can explode in a huge success byemploying innovative marketing strategy. The presence of highly experienced specialists in theteam will allow us to implement an effective multi-channel marketing campaign to attractcustomers. LegalBot has employed a team of marketing experts who will be assisted by LegalBotmarketing advisor.

There are many factors that influence its marketing strategy, in particular, word of mouth and socialmedia. These factors also tend to evolve and change as the business matures. Therefore, LegalBotwill deploy a tiered and strategic marketing approach in order to ensure continued stability andgrowth of the platform. The LegalBot marketing strategy is built on the pillars of integrity andvisibility. We shall adopt the following marketing channels;

MARKETING STRATEGY

Using the extensive experience and associations of our partners and teammembers, we will build partnerships with various Affiliate networks to generate theleads. Also, we will launch our internal affiliate program. We desire to reward thosesharing their affiliate links to friends, family members, and business colleagues.

Affiliate Programs

LegalBot blockchain will regularly give out tasks to willing users during token sale.Those who participate in the tasks will be given some tokens. The tasks couldinclude sharing some updates on Telegram or other social networks.

Airdrops and Bounty Program

Digital marketing has turned a lot of businesses into a success. That is why we willuse the entire tools social media has to offer. We will deploy the company’srepresentation and support not only in Facebook and Twitter, but also in suchthematic communities such as Telegram, Instagram, Reddit, Weibo, WeChatBitcoinTalk, and so on. We intend to use major blogs that discuss issues concerningcryptocurrencies and entertainment like Medium and Hackernoon.

Social Media Marketing

The main purpose of using email marketing in our strategy is to increase theconversion rate of other marketing channels. We will collect email addresses ofpotential customers using Display Advertising or Affiliate Marketing and build emailcommunication with existing customers to expand our customer base.

E-mail Marketing

We will be using Town hall meetings, Mainstream Media. We intend to use Television Stations,Radio stations, Erecting billboards in major cities in the world. All in all, we will ensure that LegalBotis used by a large chunk of the world's population.


LegalBot is built with an aim to provide hassle-free, error-free, transparent, secure and reliable legalservices to its customers as well as stakeholders. To make it stand out of the crowd, we haveincorporated Artificial Intelligence in conjunction with Smart Contracts on top of blockchaintechnology. Blockchain Payment system makes it more reliable and prevents it from any risk, fraudor error.

We completely understand the emerging needs and challenges being faced by legal industry andcross border businesses. To overcome all these, we have a very well thought of Roadmap in place.To achieve the vision and goal of this project, we need sufficient funds.

Presently, we are planning to launch this project and enhance its reach through various channels.Once its acceptability in the market increases, we will build next versions and keep on improving theinterface as well as end customer experience.

Our prime objective is to facilitate the users and stakeholders with our uniquely designed and user-friendly legal services.

Future of LBOT Project

The company’s roadmap is clearly integrated with its Vision and Mission statements, and it has beendrafted in a well-thought manner.

ROADMAP.

Q2 - Q3 2018 1st Batch of Airdrop andbounty distribution

Q4 2018Release of Whitepaper& One Pager, .LBOTApp Demo version

Q1 - Q2 2019Release of LBOT Platform (AlphaVersion), .LBOT Mobile AppBetter Version, . Marketing andCommunication Expansion

Q3 - Q4 2019LBOT Blockchain Release, .LBOTWallet, .Explorer, .Token Swap toLBOT Blockchain, .Masternodes,.Marketing Expansion.


APPENDIX

The purchase of LBOT tokens carries with it significant risk. Prior topurchasing LBOT, the buyer should go through the below given risksand if required, consult a lawyer, prior to decide whether to purchaseLBOT tokens.

05



The purchase of LBOT tokens carries with it significant risk. Prior to purchasing LBOT, the buyershould go through the below given risks and if required, consult a lawyer, prior to decide whether topurchase LBOT tokens. In particular, but not concluding, the buyers should understand the inherentrisks listed hereinafter:

RISK COMPONENTS

The User understands and accepts that the technology smart contract systemconcept; the proposed software application and software platform (i.e. theEthereum Blockchain) is still in an early development stage and yet to prove itsstrengths. So, there is no warranty that the process of creating and distributingLBOT tokens will be unremitting or free from errors.

Risk of software weaknesses

The User understands and accepts that the blockchain technology allows newways of communication and that it is possible that certain jurisdictions andregulatory authorities may apply existing regulations on or introduce newregulations addressing blockchain technology-based applications, which may becontrary to the current setup of the smart contract system and LegalBot Platform.This may result in substantial modifications of the smart contract system and/or theLegalBot Project, including its termination and the loss of LBOT for the User.

Regulatory risks

The User understands and accepts that the creation of the LBOT and thedevelopment of the LegalBot ecosystem may be abandoned for a number ofreasons, including lack of interest from the public, lack of funding, lack ofcommercial success or prospects (e.g. caused by competing projects). The Usertherefore understands that there is no assurance that, even if the LegalBot Project ispartially or fully developed and launched, the User will receive any benefits throughthe LBOT held by him/her.

Risk of abandonment / lack of success

The User understands and accepts that the LegalBot Project may give rise to otheralternative projects, promoted by unaffiliated third parties, under which LBOT willhave no intrinsic value.

Risk associated with other applications

The User understands and accepts that the smart contract system concept, theunderlying software application and software platform (i.e. the Ethereumblockchain) may be exposed to attacks by hackers or other individuals that couldresult in theft or loss of LBOT, BTC or ETH, impacting the ability to develop theLegalBot Project.

Risk of theft


The User understands and accepts that, as with other cryptocurrencies, theblockchain used for the smart contract system is susceptible to mining attacks,including but not limited to double-spend attacks, majority mining power attacks,“selfish-mining” attacks, and race condition attacks. Any successful attacks presenta risk to the smart contract system, expected proper execution and sequencing ofLBOT transactions, and expected proper execution and sequencing of contractcomputations.

Risk of Ethereum mining attacks

The User understands and accepts, that the wallet or wallet service provider usedfor purchasing LBOT, has to be technically compatible with the LBOT. Failure toassure this may have the result that User will not gain access to his/her LBOT.

Risk of incompatible Wallet service

Amendments to the LegalBot Platform’s protocols and software, if accepted andauthorized by the LegalBot Platform’s community, could adversely affect LBOT. TheLegalBot Platform governs the peer-to-peer interactions between computersconnected to the LegalBot Platform. To the extent that a significant majority of theUsers on the LegalBot Platform install software upgrade(s), the LegalBot Platformwould be subject to new protocols and software that may adversely affect LBOT.

Risks related to Amendments

Intellectual property rights claims may adversely affect the operation of theLegalBot Platform. Third parties may assert intellectual property claims relating tothe holding and transfer of digital assets and their source code. Regardless of themerit of any intellectual property or other legal action, any threatened action thatreduces confidence in the LegalBot Platform’s long-term viability or the ability ofend-Users to hold and transfer LBOT may adversely affect the value of LBOT.Additionally, a meritorious intellectual property claim could prevent LegalBotand/or other end-Users from accessing the LegalBot Platform or holding ortransferring their LBOT.

Risks related to intellectual property rights claims


Any buyer purchasing the LegalBot products or services expressly acknowledges technical andmarket uncertainties which are inherent in any business development project as presented in thisWhite Paper (see above for risk factors) and that this project may therefore never come to fruition ormay have to be abandoned, without the LBOT being used. In such a case, the buyer expresslyacknowledges and accepts that it will not be entitled to sue or bring any direct or indirect legalaction before the courts, the arbitration bodies or any alternative dispute settlement body, either inFrance or abroad, against the Company, its directors, shareholders, employees or subcontractors inthe event of the nonperformance, non-deployment or non-implementation of the project, even incases where its LBOT have lost some or all of their value.

LEGAL DISCLAIMER

In addition, LegalBot may not be held liable for anyof the following:

• Use of services that are not compliant with theapplicable terms;

• Non-performance, failure, malfunction orunavailability of the services due to a third party,the buyer, a third-party product, or the buyer’sbreach of its obligations;

• indirect damages such as business loss ordisturbance, loss of orders, operating loss,infringement of the trade mark, loss of profits orclients (e.g. improper disclosure of confidentialinformation concerning said clients due to failureor piracy of the Platform, third-party proceedingsagainst the client, etc.);

• loss, disclosure or unlawful or fraudulent use ofuser sign-ons by the buyers or third parties;

• suspension of access or temporary or permanentsuspension of services (in particular, arising froma request issued by an appropriate administrativeor judicial authority, or notification received from athird party);

• loss, alteration or destruction of all or part of thecontent (information, data, applications, files orother items) hosted on the infrastructure, insofaras the LegalBot is not responsible for managingthe continuity of buyers activities, and databackups in particular;

• Mismatch between the services and the buyer’sneeds (in particular, with regard to the sensitivityof the relevant data);

• Security incidents relating to use of the Internet,concerning in particular the loss, alteration,destruction, disclosure or unauthorized access tothe buyer’s data or details on or via the Internet;and

• Damages to systems, applications and otheritems installed by the buyer on the infrastructure.


This White Paper does not constitute an offer or an invitation to sell shares, securities or rightsbelonging to LegalBot or any related or associated company.

None of the information or analyses in this White Paper is intended to provide a basis for aninvestment decision, and no specific investment recommendation is made. Accordingly, this WhitePaper does not constitute investment advice or an invitation to invest in any security or financialinstrument of any nature whatsoever.

This White Paper does not constitute or form part of, and should not be construed as, an offer for asale or subscription, or an invitation to buy or subscribe securities or financial instruments. ThisWhite Paper, or any of its component parts, does not constitute the basis for, or should not be usedas a basis for, or in connection with, a contract for the sale of securities or financial instruments or acommitment to sell securities or financial instruments of any kind.

LegalBot expressly disclaims any liability for any direct or indirect loss or damage of any kind arisingdirectly or indirectly from:

any reliance on the information contained in this White Paper;any error, omission or inaccuracy in said information; orAny resulting action that may be brought.

This White Paper has been constructed in accordance with the applicable regulations.

An LBOT does not represent an investment.

Control over an LBOT does not grant the controlling individual any asset or share in LegalBot, or inthe Platform. An LBOT does not grant any right to participate in control over the LegalBotmanagement or decision-making set-up, or over Platform.

LBOTs are not accepted outside the Platform and an LBOT do not have a fixed exchange valueequal to the amount delivered at the time of their issue;

An LBOT is a cryptographic token used by the Platform.

An LBOT is a crypto-currency, i.e. an unregulated digital asset issued and controlled by itsdevelopers and used and accepted by the members of a given community.

GENERAL DISCLAIMER


https://smallbusiness.yahoo.com/advisor/post/121605721332/a-report-from-accenture-and-alibaba-groups-aliresearch

https://www.tractica.com/newsroom/press-releases/blockchain-for-enterprise-applications-market-to-reach-19-9-billion-by-2025/

https://coinmarketcap.com/charts/

References

COMPANY WHITEPAPER€¦ · As a fully decentralized platform, LegalBot allows instant payments with...

Documents

Transcript of COMPANY WHITEPAPER€¦ · As a fully decentralized platform, LegalBot allows instant payments with...