Dave Marley

davemarley.eth

[Dave Marley @davecmarley]

@coinhunter4life That’s awesome! I’m always impressed by people that take the plunge

[Dave Marley @davecmarley]

Simple demo smart contract and front-end for traditional contract creation and acceptance

Goerli address: 0x4eAdA86dfBab67Cbf1Ce6DE879B356e3afDA7bee
Front-end: https://t.co/dRkpuZhf5X (suggest viewing on a desktop)

But why execute traditional contracts onchain?

[Dave Marley @davecmarley]

Better front-end link (hopefully): https://t.co/UIUW1vihew

[Dave Marley @davecmarley]

Additionally, shout-out to @erichdylus for the inspiration (and the starter resources) to begin learning Solidity as a lawyer. Resources -> https://t.co/jPJXqEaFn2

[Dave Marley @davecmarley]

If you'd like some GoerliETH to test it out, please feel free to reach out!

[Jorge Izquierdo @izqui9]

The first Stock Purchase Agreement for an internet-native company on @firm was just executed!

It happened onchain end to end in one atomic 'board resolution' transaction in which the sale was approved by the board, funds transferred to the treasury of the company and shares issued to founders with vesting

All the actions happened onchain yet they are legally binding in a mirror entity (aka legal wrapper) in Delaware

It has been one of these moments doing something in Ethereum that felt like bringing a moment from the future to the present. Feeling super excited to help make this the way everyone starts and runs companies going forward!

[Dave Marley @davecmarley]

So users have less of an incentive to “defect” and negotiate the traditional contracts outside of the protocol. If you defect, you lose what’s really valuable (control via smart contract) (3/3)

[Dave Marley @davecmarley]

In addition to being one of the clearest examples of the benefits of blockchains, @firm also has a chance to streamline the negotiation of “traditional” legal contracts (I.e. contracts enforced by the legacy legal system) (1/3)

[h0xp0x.eth @h0xp0x]

How @firm can drive innovation in traditional legal contracting (without even trying to)

https://t.co/6E0dKGEuBi

[Dave Marley @davecmarley]

In short, the efficiency gains promised by “LegalTech” simply haven’t been sufficient to cause meaningful adoption. Firm offers a different incentive (organizational control via smart contract). The efficiency gained at the traditional contract level is just a byproduct (2/3)

[Dave Marley @davecmarley]

@firm congrats on the launch! I’d be very happy to contribute in some way on the legal side if there’s an opportunity

[Dave Marley @davecmarley]

@firm’s ability to provide real-time organizational control seems like an order of magnitude improvement over the controls offered by the traditional legal system in the same way that the ability to audit DeFi protocols in real-time is a huge improvement in org transparency

[Dave Marley @davecmarley]

It seems natural that more and more organizations will be built this way. Particularly with the ability to opt-in to a real world legal entity.