AgreeMint harnesses blockchain to alleviate pain points in contract management

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Alpha Dapp, powered by VX Technologies, is a blockchain-based record service designed to empower people and records, serving as a bridge from Web2 to Web3.

Alpha Dapp’s solutions facilitate data publication to the blockchain, ensuring secure, transparent, and tamper-proof record-keeping and data management.

The latest launch from the Alpha Dapp suite of solutions is a user-friendly AgreeMint contract management platform (CMP). The CMP is designed to alleviate the common pain points experienced today with contract execution using word processing programs or more tailored applications such as DocuSign.

“In many industries, contracts are still managed with Word documents and basic signature tools, which unfortunately allows signers to modify terms before signing and returning the document,” Justin Pauly, VX Technologies President, told CoinGeek.

“Some of the biggest challenges with DocuSign lie in its pricing structure, user interface, integration complexities, and lack of flexibility. Alpha Dapp’s AgreeMint addresses all of these issues head-on,” he said.

In addition to preventing any sort of unwanted modifications to contracts, AgreeMint offers fixed pricing, ensuring that users pay only for what they need. Their drag-and-drop interface is intuitive and user-friendly, enabling users to easily create and manage contracts.

The Alpha Dapp team has also made it easy for users to integrate AgreeMint with their existing systems via webhooks and APIs. The CMP includes powerful search, filter, and tag options for the content inside documents and provides customization options without technical complexities.

“Our contract management platform is designed to seamlessly bridge the gap between Web2 and Web3, making the transition effortless for users. We understand that most users are accustomed to traditional Web2 experiences, so we’ve built our platform to look and feel just like the SaaS products they’re already familiar with, such as WordPress,” explained Pauly.

“Users log in with a simple email and password, just like they would with any other system. Behind the scenes, however, these credentials are used to automatically create a self-custody blockchain wallet—completely invisible to the user,” he added.

Despite being hidden in the background, users benefit from the enhanced security and functionality of Web3 without needing to understand blockchain technology—the platform handles everything for them.

“By combining the best of Web2 and Web3, our platform offers a user-friendly experience that leverages cutting-edge technology while maintaining the ease and simplicity that users expect,” Pauly said.

To sum it all up, the key benefits of AgreeMint for the user include enhanced security, efficiency, cost reduction, transparency, immutability, and compliance. Let’s take a closer look at each of these benefits.

Enhanced security

Using AgreeMint, contracts are protected with cryptography and decentralized storage. When creating a contract in the application’s form builder, users can select what they want to be published to the blockchain in plain text and what they want to be encrypted. Plain text is searchable by the public, but encrypted information is only accessible by both parties involved in the contract and anyone else they wish to grant access to.

Property transfers, for example, all need to be public, so the information within the contract will be in plain text on the blockchain. For a medical waiver, almost all of the information will be encrypted. It all depends on the nature of the document.

Efficiency

AgreeMint eases administrative workloads and expedites contract management. Non-negotiable contracts are published to the blockchain, and all parties can sign digitally with their on-chain ID (hidden in the background).

There is no longer a need to go through emails to get caught up with different contract versions because the whole process is streamlined and documented in one central location. Contract negotiations don’t need to take months anymore.

Cost reduction

Legal fees and operational costs are lowered when using AgreeMint because the system minimizes intermediaries and risks.

Transparency

Users can expect real-time visibility into contract history and updates with everything published on-chain in one central repository. Users can configure “action notifications” to receive an email alert for something such as a modification request or that all parties have signed—these are atomic transactions written on-chain and linked back to the original record.

Immutability

Gone are the days of contract manipulation in any way. AgreeMint creates permanent, unalterable records on the blockchain, guaranteeing trust and integrity for all users.

Compliance

There can be zero disputes with authorities over KYC or anything related to the contracts because the audit trails are immutable. AgreeMint simplifies the road to any resolution necessary, saving time and money for users.

Momentum is building

According to Pauly, the feedback has been incredibly positive so far, which is not a surprise considering AgreeMint’s user-friendly design and all the key benefits listed above.

“Our first major client is a bank, but we’ve already seen interest from other sectors, including service contracts and even a potential use case where the platform could be used for inspectors to ‘sign off’ on completed work,” he confirmed.

“What stands out most to our clients is how easily configurable the platform is. It’s intuitive, making perfect sense to people who work with contracts every day. The ability to lock down contract terms and provide a clear, unchangeable audit trail has been particularly appreciated, and we’re excited about the momentum we’re seeing across various industries,” Pauly added.

Watch: Magic Dapp and Alpha Dapp with Justin Pauly of VX Technologies