VADUZ, Lichtenstein–(BUSINESS WIRE)–The world of crypto enterprise is booming and the vast potential of Blockchain technology is finally being realised. From global banks to bootstrapped start-ups, thousands of organisations are creating blockchain-enabled technologies and all of them are coming up against the same challenges: they are discovering that in this brave new world, it is the traditionalism of the legal sector that creates the biggest obstacles.

SmartOne has been working to solve the problem of a lack of access to suitable legal services for the crypto community. The result of their work is LEGAL, a new Ethereum-based token.

LEGAL provides discounted access to a marketplace that works for the crypto community by making legal services both easily accessible and suitable for blockchain-based businesses.

“SmartOne and the LEGAL token represent an enormous step forward for the legal sector,” said Prof. Thomas Fischer, Foundation Council President of SmartOne.

“Until the launch of LEGAL and the SmartOne marketplace, the crypto community was not being properly served. By creating a legal marketplace that offers services to the crypto community in a format that works for them, SmartOne is solving a problem that had the potential to stunt the growth of blockchain-based services.”

By providing access to “crypto-friendly” legal, regulatory and compliance services, SmartOne believes that crypto enterprises will now be able to satisfy the requirements of the financial services markets. In turn, this will help them gain access to the funding they need to become successful businesses.

As SmartOne prepares for LEGAL’s token generating event, its longer term aims include the creation of an entire eco-system that will serve to promote research and development activities connected to the SmartOne protocol, as well as the launch of a risk ratings system for crypto assets that will facilitate the entrance of institutional investors into the blockchain market by providing a level of confidence in the security of new token launches.

The SmartOne Foundation and the SmartOne Protocol

The LEGAL token lies at the heart of the SmartOne ecosystem. Its main roles are to provide memberships and serving as a license to use the SmartOne protocols, which enable token holders to access legal services, including the common regulatory requirements of Anti-Money Laundering (AML) and Know Your Client (KYC) processes, through blockchain technology.

To deliver the legal services that the crypto community needs, SmartOne has partnered with SKUANI, a successful legal services marketplace; NextLex, a developer of cloud-based process automation software for documents and contracts. NextLex simplifies complex decision-making processes and implements risk management and compliance protocols.

SmartOne is also partnered with LegalOne providing robust legal opinion for the implementation and analysis of TGE’s, thereby enabling crypto enterprises to launch with solid legal foundations.

SmartOne was officially launched on 30th August 2017 at Liechtenstein’s 7th Blockchain Meetup, held in Vaduz.