Introduction
First proposed by Nick Szabo, smart contracts allow automatic execution of digital contract provisions at the establishment of their conditions, eliminating the need for third parties to check whether these conditions are truly realized. Highly used by Ethereum, it's not wrong to say that they have reshaped the cryptocurrency landscape. For example, ICO, which is an important part of the market, is made possible by the use of smart contracts.
Background
This allows every Mattereum user to make legal transfers of property and physical / intellectual assets online. The legal, technical and commercial infrastructure layers created by the Mattereum team enable many features such as asset governance, joint-based collaborative projects, the use of any assets as collateral, and so on. In the case of a dispute, a predetermined arbitrator will arrange the settlement process and they will be able to charge fees for their services.
The two main features of this platform are asset passports and Smart Property Registration. Passport assets contain records and information needed from certain assets, so that physical assets are represented in the chain. The second main feature, the Smart Property Register, provides a new solution to the problem of double spending. No transfers are completed until changes in ownership of an asset are reflected in the Smart Property List, so no one can sell the same asset twice.
But whether smart contracts are legally binding is another matter. Not all are compatible with national languages such as English that we use in everyday life and almost no templates are designed in a legal manner. This alone makes it difficult to transfer assets or anything of value in a way that can be recognized by the relevant legal parties. Mattereum aims to bridge the gap between the world of smart contracts and world legal institutions and enable blockchain use in the form of digital contract trading called the Ricardian contract, which is one of their team members, Ian Grigg, which was discovered in 1996.
Token
Although there is no detailed information about the use of platform tokens at the time of writing, one case for Mattereum tokens is that it will be used for services used on the platform, acting as genuine utility tokens.
There is no information about the Mattereum token metrics or how the team plans to use the results of the sale of tokens released at the time of writing.
Team
Rob Knight: Knight has worked as a major developer at CMC Markets and as a technical architect at ITV.
Aeron Buchanan: Buchanan is the head of European finance and operations at Ethereum.
David Salgado: Before joining Mattereum as head of operations, Salgado worked as a senior technical analyst for twenty months at the UK Ministry of Justice, and as a programmer for four years at O2 UK.
Ian Grigg: Grigg invented the Ricardian contract, a human-readable digital machine and machine that defined the terms and conditions of interaction between the parties, in 1996. He also worked on a gold-supported anonymous digital money system, DigiGold in the 90s.
Vinay Gupta: Gupta is a former release coordinator at the Ethereum Foundation.
Partner
Marine Protocol: Marine Protocol is a decentralized exchange of data.
Decision
Below is a breakdown of the risks and growth potential of Mattereum.
Risk
- No information regarding metric tokens was not released at the time of writing. This makes it difficult to evaluate project value and potential return on investment.
Growth potential
- This project aims to solve important problems, namely filling the gap between the world of smart contracts and the world of legal institutions.
*The team plans to use the Ricardian contract to address the problems mentioned earlier. The presence of the inventor of these contracts, Ian Grigg, is clearly big for the project.
- Great team.
Investment Details
- Type: ERC20 - Utilities
- Symbol: Not specified
- Platform: Ethereum
- Crowdsale: Not specified
- Minimum Investment: Not specified
- Price: Not specified
- Hard Cap: Not specified
- Payment Received: Not specified
- Limited to Participation: Not specified
Further information :
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Medium : https://medium.com/bridgexnetwork
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