A group of Lancaster University Computer Science undergraduates has won a prestigious general foe for their record business thought that could change authorised contracts.
Nihir Vedd, Rohan Littler and Will Wilkes won initial place during a Atos IT Challenge 2017 – violence off 76 other tyro teams from around a universe to explain a €10,000 esteem and a fast-tracked internship during Atos, a tellurian record company.
The plea was to emanate a new thought formed on a blockchain – a record that allows information to be stored in a approach that can't be modified, presenting a publically-verifiable bill of records. The many famous blockchain-based focus to date is a cryptocurrency Bitcoin.
The Lancaster students’ thought was ‘Quo’ – a web-based focus to yield legally-binding agreement templates that take mins to fill out, resisting with a days and weeks it can now take with authorised documents.
Quo can be used for many situations requiring authorised contracts, including eccentric workers and freelancers, genuine estate, lettings, word and practice contracts.
“The focus is designed to yield an intensely easy approach to muster authorised contracts, stealing barriers to entrance for individuals, and businesses, that don’t have a resources to deposit in lawyers,” pronounced Rohan Littler. “Using a blockchain, Quo guarantees a flawlessness of each contract. We are means to endorse if a user has categorically entered into a sold contract, and what a strange diction of that agreement is – therefore preventing opposite prejudicial or antagonistic modifications, should disputes arise.”
Quo is also means to offer low-cost remuneration methods into contracts, including ‘escrow’ (where a third celebration binds and regulates remuneration of a supports in a transaction) functionality.
More information about a Atos IT Challenge can be found during https://www.atositchallenge.net/edition-2017/.
Source: Lancaster University
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