In a world where legal complexities often hinder progress, HubContracts emerges as a beacon of simplicity and accessibility. HubContracts is a user-centered platform revolutionizing contract management. Its mission: to empower individuals and businesses alike with user-friendly contract creation, management, and signing capabilities.

Now, with Concordium’s unique blockchain features, HubContracts is committed to elevate its offerings to the levels of security and transparency people without a law degree necessitate to confidently formulate and sign their own legal documents.

Enabling Danish Citizens to draft legal contracts independently with confidence

HubContracts’ CEO, Victor Pedersen , shared, “Our journey began with a simple desire: to demystify contracts for everyone. Now, with Concordium by our side, we’re taking a giant leap forward. Together, we’ll integrate blockchain technology seamlessly into our platform, ensuring security of users and traceability and immutability for every contract.”

Concordium’s blockchain solutions will add layers of trust and integrity to HubContracts’ existing features enabling user-friendly template-based contract creation.

Additionally, AI-driven insights will enhance contract quality by identifying critical aspects and simplifying complex legal phrases into approachable language for users.

Anders Fogh, an esteemed investor and Chairman of HubContracts, expressed excitement about the partnership, stating, “Joining forces with Concordium and leveraging blockchain and AI capabilities is a game-changer. Together, we’ll redefine how contracts are managed and empower users with unparalleled confidence.”

Technical Implementation and Overview

E-signing is commonly used to speed up the signing process for businesses and private people. Unfortunately we can rarely be 100% sure the signature was added by the right entity. The signing invite could be intercepted or willingly forwarded to a third party. Concordium’s self-sovereign Digital Identity solutions are easily accessible by Danish citizens by connecting with their mitID. The identity of the signing parties can then be publicly verified by Zero-Knowledge technology, maintaining individual user privacy.

Hash-based timestamping of contract adjustments, will efficiently trace the interactions of various parties. Once signed and e-sealed, a process to assure immutability, the contract can be used to create verifiable credentials for the contract parties that can add utility to the contract and allows users to reference the contents of the contract without having to share the document fully.

Outcomes and Benefits of the Partnership

Through this partnership, HubContracts and Concordium aim to usher in a new era of contract management, where security, transparency, and ease-of-use converge seamlessly.

The partnership will benefit the users by providing a secure and transparent contract management solution focusing on the Danish legal system.

The issued developer grant aims to enable rapid progress, with announcements expected in the first week of July and the project going live in Q3 2024.

Explore HubContracts HERE