The technological complexities interwoven into our daily lives would be hard to compile, let alone fully understand. Most of us don’t know how our smartphone works but that doesn’t stop us from using it. Agrello is seeking to follow this paradigm by bringing a pivotal aspect of blockchain technology, executable distributed code contracts (EDCCs), down to ground level. In a future where blockchain technology has been ubiquitously integrated into all computer systems, Agrello seeks to empower the masses by removing the expertise needed for creating and implementing EDCCs.
Potentially, this is how simple EDCCs could become. After going through the relatively modest process of drawing up an EDCC on Agrello’s software, the agreement would automatically be translated by an AI from the language the user wrote it in – for example, converting English to Solidity (a programming language of EDCCs).
Once AIs can perform this task, many of the legal consequences and ramifications of an EDCC would be simultaneously solved as well. As stated on Agrello’s website: payments, obligations, and rights are “triggered automatically according to the contract’s terms and user inputs. Throughout the contract’s lifecycle, an AI counselor guides you through your agreement and notifies you on your legal obligations and rights.” As real world scenarios are likely to evolve during the life cycle of an EDCC, users of Agrello’s proprietary AI would receive real time council on the details of the change and present stakeholders with the information they need to weigh possible benefits and consequences as they see fit.
This is a potential game changer for EDCCs. As technological revolutions are occurring across multiple industries, creating ever greater complexities, the ability of EDCCs to cut through deal-making conjectures and provide much-needed trust and transparency is fundamentally transformative for commerce. It was only a matter of time before advancements across the technological spectrum overlapped, allowing for compounding innovation. Agrello is using its technological expertise to take advantage of this pivotal moment. While converting the contract into code is simple in concept, building a learning computer that can read and infer a user’s intent is where Agrello will draw upon its rich Estonian technical culture to innovate.