Let's define the context, Jur's frens ๐๐ก. @JurProject
In the past few weeks, I have had the pleasure to talk to many projects in the space, and we will be talking to many more in the coming days.
There is a unanimous consensus on the need to create and adopt open-source legal contract standards.
@Polkadot @Kiltprotocol @MoonsamaNFT @publicpressure @energywebx@mynft @ScytaleVentures @trentmc0 @AventusNetwork @Kiltprotocol @gameDAOco @ZeitgeistPM @MomentumXYZ
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There is a need for a legal infrastructure that can be considered standard, a common base of governance that each project can rely on.
Why is this a burning need?
Today every project must reinvent the wheel to create an agreement. For example, to create a model Grant program agreement, each project must invest resources and energy.
In addition, each time an agreement is made, the other party to an agreement (the one receiving a grant, in the example) has to study the contract all over again each time. That means legal fees, and time. Renegotiation phases often open up adding more further costs.
What is stated here becomes clear if we take NDAs as an example.
It makes no sense to spend time re-reading NDAs every time.
Wouldn't it be easier to have a standard NDA that we all know and sign without renegotiation every time?
Imagine a JUR-NDA-2022, maintained by a working group that evolves over time. The working group has its own internal governance and working model.
Imagine that anyone will be able to use JUR-NDA-2022 for free. The goal is to minimize the transaction cost as much as possible.
The problem today, indeed, is not automating a legal contract.
Automation is a consequence. Automation also means having to deal with issues of a different order.
What is urgently needed is a Standard.
Ultimately, you cannot automate what is not standard.
cc @Web3foundation @aeronoxio @sergiomottola @mrsergiomottola @ingoruebe @marcobahn @KyilkhorSama @edhesse79 @mark_cachia_ @DaKampe @davidhperry
From an NDA to a SAFT to the terms of sale of an NFT.
The value lies in generating a consensus on business practices.
Let's do an analogy to clarify the concept by taking Ycombinator's SAFE as a reference.
The value of Y Combinator's SAFE is not in the legal text itself.
The value lies in representing a contractual balance that the parties already know is reasonable for both parties.
The value is in limiting the transaction cost.
At Jur, we are starting the first working groups for making the Open Source Contract Standards a reality.
At the option of the parties, the Jur dispute resolution clause and access to Jur as a digital jurisdiction will be available.
We aim to contribute by creating tangible value, right away and gathering feedback.
Our vision is to create a Network State, in the sense of a governance infrastructure aimed at solving specific concrete problems at scale.
We will be publishing a Call for Participation soon.
Anyone is welcome to contribute to one or more working groups.
At the same time, the citizenship program for the preconstitutional phase is coming out.
The two initiatives will go hand in hand.
#networkstate #relaycountry