What would be the benefit of a regular crypto user from this project? Aside from the trading side, would this affect our daily lives if purchased? With so many tokens to look forward to, how can you convince such a regular crypto user to invest on your project?
We think that it's in everyone’s interest in the crypto world to achieve a wider acceptance of cryptocurrencies and smart contract functionalities in the "real world"
The VLT Token empowers the sophisticated ecosystem of accessible and affordable conventional contracts (with or without smart functionalities) and legally binding and enforceable truly smart contracts. The Contract Vault platform allows you to include your cryptocurrencies in real world agreements, for example by creating legally binding agreements using cryptocurrencies as a security, as a payment option to be executed via smart contracts on the basis of conditions set or for escrow purposes.
I hope this helps. Just let me know should you have any further questions.
So you're saying that contract vault could eventually let you do small loans against your cryptocurrencies? or like peer-to-peer lending?
Seems that it's part of their plans. But it means, someone needs to buy their tokens first before creating such agreements. And for me, it's bit complicated. Because if you are entering legal contracts, usually you need physical presence at one point. So why not simplify your life, just use your fiat money instead. With this, you have fiat money to buy tokens and then enter legally binding contracts. Somewhere there, you lost a portion of your money. But maybe, this has specific advantages in very few occasions. So it means the usability of this project is not that much which would affect the price in exchanges in the future.
Thank you so much for your feedback.
Generally spoken, Contract Vault encourages the service providers to keep the VLT in the ecosystem, eg. for advertising their services, paying license fees for the use of the editor for internal purposes or collaborating with other service providers (lawyers with other lawyers and smart contract developers and vice versa). This is especially interesting in international or regular cooperations and as such stated on the token sale page and in the white paper. Furthermore, all license fees paid for the white label use of the platform flow to Contract Vault, which allows Contract Vault to stimulate the offer of the VLT on the free market. Contract Vault will also offer discounts for all payments done directly in VLT (by decreasing its fees) so that it may be advantageous to keep the VLT rather than sell it for fiat / exchange it to other crypto and rebuy it later. Due to the limited availability of the VLT token, the price should correlate with the demand for services. If the demand exceeds the market capitalization of the VLT token, then the price should react. Contract Vault believes that there is a market for the platform and - due to the full scalability of the project and the global approach - the demand will exceed the capitalization. We are talking about a 700 billion market only for classic legal services, let alone all alternative legal services and "new world" use cases which nobody offers yet. If one does not believe that bringing efficiency to the legal industry and making contracts with smart functionalities accessible, legally binding and legally enforceable, yeah, then it will be difficult to assume that there will be a sufficient demand.
