FillTheDoc: a step forward for LTO Network blockchain adoption
FillTheDoc is live, and the usage has kicked in! In fact, despite the difficult times for many, digitalization is only growing. The trend of automation continues to gain new supporters as most companies shift to remote work or WFH “Work From Home”.
This is not just a seasonal spike in usage, as the transition to digital has been going for years. The rate has simply been accelerating at an incredible pace. FillTheDoc, a contract automation tool for professionals, is also right in that field. It has been live for a few weeks, but what does it do and why is it relevant to the LTO Network community? Let’s dive in!
Back in 2017, we created a contract management software called ‘Legal Things’. The document engine within, (‘LegalDocx’) was extremely popular and developers began to request to be able to just use the document engine on its own. Reacting to this success, LTO Network improved it and have now relaunched it as fillthedoc, the ultimate developer tool for document automation.
There is a great piece on CryptoDaily on how fillthedoc came to life and what it enables, check out for more context on the product. It is one of the 3 end-client solutions we are launching this year: next to Proofi [currently in Beta, release planned for Q3] and LetsFlow [Q4].
These products help us increase the adoption of the blockchain technologies, attract new users to Ecosystem V, and boost the network activity with transactions on mainnet. Speaking of...
Why is fillthedoc relevant for LTO Network blockchain?
Blockchain is a complicated techy thing that very few understand and very few know what to do with it. Thus, we often hear “make the technology easy enough for regular users to understand!” But that’s not the way if you think about it… The code can’t be made “simple” as deep understanding opens up opportunities and responsibilities, it has to stay that way and it will.
The backend technology is complicated, but the end-client products shouldn’t be. It’s about having adoption appear in existing solutions gradually so that regular users keep interacting with the products they like - while in the back, those are infused-upgraded with blockchain functionalities. We have outlined the path for blockchain adoption back in 2018:
For example, using SignRequest to sign a digital document + receiving a signature timestamp recorded on the blockchain as Proof of Existence. In such cases, for regular users, there is hardly any learning curve involved compared to if you try to learn about private keys.
You might have noticed that fillthedoc got its own node, meaning that you can track the activity and contribution of the product to the ecosystem.
As the number of clients and users grows and more documents are being created-edited, more timestamps get anchored on LTO Network mainnet, paying fees in LTO for usage. It’s that easy!
This is also a revenue stream for the company-integrator. As we grow the company and the user base of fillthedoc and other products, it generates more cashflow into the LTO token economy, increasing transaction output and non-inflationary staking revenue.
What are the next steps?
So far 39,215 anchoring transactions have been generated by fillthedoc by a few of the previously existing launching partners. We are about to introduce a couple more companies who will be integrating fillthedoc 🌚 If you have some ideas on potential clients, want to start testing it yourself, or would like to somehow else contribute to the solution - jump in the chat!
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