Legal-tech company Comake, on September 30, launched LinkSign, an e-contract solution based on LINE Blockchain.
About the Service
LinkSign is an e-contract service based on AI and blockchain. As a one-stop solution, it covers the entire contract lifecycle, from drafting to reviewing, signing, and execution.
Users can easily create contracts by selecting from various templates, and also view progress across the entire contract process in real time. With blockchain technology, LinkSign prevents contracts from being tampered with or forged as well as ensures safety and security of users. In future, execution process is expected to be strengthened with payment and the other features supports, so that users will be able to perform all their contractual obligations within LinkSign.
Why LINE Blockchain?
For e-contracts, preventing tampering and forgery, visualizing the contract process, and ensuring security is imperative. In this context, Comake has adopted LINE Blockchain with the confidence that these requirements can be met by leveraging the advantages of blockchain such as immutability and transparency.
Beyond providing capabilities to digitalize and e-sign contracts, Comake further strives to deliver the next generation of contracts by achieving enhanced transparency with smart contracts on blockchain.
There was a particular challenge faced while developing LinkSign. As is the nature of contracts, users would send drafts back and forth with their counterpart for redlining. However, if their signatures were required whenever they edited drafts, the whole contract process would become extremely complex as it would involve the minting, transferring and burning of tokens every time. To address this, Comake has had numerous discussions with LINE Blockchain’s planners and finally figured out a solution: generating NFT tokens for contracts which will be minted only after signed by all the parties. This breakthrough led to the development of an efficient dApp service.
■ Service name: LinkSign
■ Corporate name: Comake
■ Official website: www.linksign.jp
■ Category: e-Contract
Under the concept of “LINE Blockchain: connecting with your every day,” LINE strives to provide blockchain services and technologies that can be integrated into users’ daily lives.