AI and Blockchain Ready to Come to the Platform for Legal Services Providers "Legal Contracts"

After getting investment injection from Kaskus, Contract Law plans to embed the two latest technologies into platformthis year, namely artificial intelligence (AI) and blockchain. These two technologies are considered to be able to provide experience in providing better legal services in the future.

According to the Chief Operating Officer of Legal Contracts Jimmy Karisma R, his party is currently conducting research while conducting development to implement the two technologies. The hope is that this technology can provide quality services in terms of speed and credibility.

"We don't want to simply move [legal services] from offline ke online. We want the technology behind it. And we see the mecca in the United States, where these two technologies are often used for legal needs," he said DailySocial at GDP Power Lunch in Jakarta.

Jimmy gave an example, with process AI review contracts can be up to 50-60 percent more time efficient. This technology can enable the system to read and generate data summary of the contents of the contract. Para lawyer no need to read the contract again.

While example use case for blockchain technology is to avoid the potential manipulation of contracts or any legal material in the system. This is because blockchain has a transparent and distributed nature in its working concept.

"The plan [this technology] can beroll out the third quarter of this year because it is still research and development," said Jimmy.

Contract Law currently has three main businesses, namely legal service providers, there are three contracting services, business entity creation, and trademark registration.

The company targets the MSME market target and startup business actors. Currently, Legal Contracts has 2.000 clients and 100 partners who have been curated according to their specialization.

CEO and Founder of Legal Contracts, Rieke Caroline, added that this year his party will synergize with Kaskus to educate the market about the importance of legal needs.

"We want to change the face of the law so that it is closer to people's lives. So far, the law is considered far away, even though it is very important. So, together with Kaskus, we will create serialized content to encourage that goal," said Rieke.

The importance of legal matters for startups

CEO and Founder of Layaria Dennis Adhiswara also shared his views on the legal needs for startup business actors. Dennis highlights how important it is to make agreements betweenfounder when building a startup.

"In addition to trademark registration, agreement between founder or shareholders it's a pretty common complaint. If there is no agreement, it's dangerous. due diligence can be delayed. Moreover, if there are no complete documents, investors can withdraw," he said at the GDP Power Lunch.

Agreeing with this, the Deputy for Infrastructure of the Creative Economy Agency (BEKRAF), Hari Sungkari revealed that most startups closed not because of a lack of investment, but because of the absence of an agreement with founder.

"Not only because the legal matters are not finished, but there are clash between founders, startup can close. There is no time at the beginning revenue, later if there is, how will it be distributed? That's why there needs to be an agreement to discipline their rights and obligations," Hari said.