Quote from: perhan007 on May 14, 2018, 06:02:21 AM

Quote from: tippytoes on May 13, 2018, 10:44:08 PM

Quote from: scryptminer on May 13, 2018, 05:47:59 PM

So you're saying that contract vault could eventually let you do small loans against your cryptocurrencies? or like peer-to-peer lending?

Seems that it's part of their plans. But it means, someone needs to buy their tokens first before creating such agreements. And for me, it's bit complicated. Because if you are entering legal contracts, usually you need physical presence at one point. So why not simplify your life, just use your fiat money instead. With this, you have fiat money to buy tokens and then enter legally binding contracts. Somewhere there, you lost a portion of your money. But maybe, this has specific advantages in very few occasions. So it means the usability of this project is not that much which would affect the price in exchanges in the future.

Thank you so much for your feedback.

Generally spoken, Contract Vault encourages the service providers to keep the VLT in the ecosystem, eg. for advertising their services, paying license fees for the use of the editor for internal purposes or collaborating with other service providers (lawyers with other lawyers and smart contract developers and vice versa). This is especially interesting in international or regular cooperations and as such stated on the token sale page and in the white paper. Furthermore, all license fees paid for the white label use of the platform flow to Contract Vault, which allows Contract Vault to stimulate the offer of the VLT on the free market. Contract Vault will also offer discounts for all payments done directly in VLT (by decreasing its fees) so that it may be advantageous to keep the VLT rather than sell it for fiat / exchange it to other crypto and rebuy it later. Due to the limited availability of the VLT token, the price should correlate with the demand for services. If the demand exceeds the market capitalization of the VLT token, then the price should react. Contract Vault believes that there is a market for the platform and - due to the full scalability of the project and the global approach - the demand will exceed the capitalization. We are talking about a 700 billion market only for classic legal services, let alone all alternative legal services and "new world" use cases which nobody offers yet. If one does not believe that bringing efficiency to the legal industry and making contracts with smart functionalities accessible, legally binding and legally enforceable, yeah, then it will be difficult to assume that there will be a sufficient demand.

Quote from: vicvicto17 on May 14, 2018, 11:36:07 PM

Quote from: scryptminer on May 14, 2018, 07:55:07 AM

Maybe some people don't believe in crypto economics but it makes sense to use a token here, micropayments, microrewards...and yea legal services is a big market, for sure!! (And let's be honest...lawyers are front and centre in the token world!) To me this token and token economics makes more sense than a lot of other "usage" tokens...so token price should be good...

Well we don't need them, they will need crypto for sure. Can't wait how the world will change by using this kind of technology. What we need to do is to guide them and show them what is the true meaning of crypto especially Vault tokens that offers truly Smart Contracts for Everyone.

I think that's one of the steps that they need to address later on. If you present the project which is understandable by everyone, then they can easily grasp the importance of the platform. And little by little, they will try to use it until they become well-versed of this service. And by word of mouth, you can see the expansion of this platform. And right now, everyone wants to ride the bandwagon but in reality, very few understand the importance of blockchain in dealing with business transactions.