DLT Coin: What Is Agrello Coin?

DLT coin is a cryptocurrency designed to change the world of legally binding contracts.

Created by the Agrello Foundation, it’s a blockchain based platform.

But what’s the use case for DLT crypto?

And could Agrello coin become a game-changer for smart contract technology?

In this DLT coin review, you’ll discover everything you need to know about the project.

​1. What Is DLT Coin?

DLT coin is a blockchain based cryptocurrency that makes contracts more accountable, trackable and easier to enforce.

It could potentially help resolve some of the key contract related conflicts many companies struggle with.

DLT Coin Agrello Logo

You’d basically take a legal contract, and store it on the Agrello Delta blockchain.

Therefore you’d be able to:

  • Automate the maintenance and execution of legally binding contracts

  • Cut out the hefty legal expenses

  • Execute legal interactions with Smart Contracts

  • Manage tenancy agreements

  • Save time by reducing the admin required

  • Use Artificial Intelligence to enforce your contracts obligations

DLT coin is also known as:

  • Agrello Coin

  • Agrello Delta

  • Agrello Foundation

If you want to trade this cryptocurrency, their ticker symbol is DLT.

You can find their website here.

1.1. What Are The Benefits Of DLT Coin?

So why would anyone use DLT coin?

Well, there’s a few key features that businesses might find useful.

Mainly this comes down to simplicity.

Legally binding contracts are:

  • Notoriously complicated

  • Time consuming

  • Expensive to manage

  • Difficult to understand and enforce

Agrello coin is creating a platform that makes the whole process a lot easier.

It’s basically like the WordPress equivalent for Smart Contracts.

DLT Coin Benefits

So a business would enter their contract details and send a copy to all other parties involved.

The contract would be managed via Agrello Delta’s platform.

1.2. Key Features Of DLT Coin

Some of the key features of DLT coin include:

  • Easy To Set-Up: You get templates and a contract wizard, to guide you through the whole process
  • Legally Binding: When a contract is signed via the Agrello Delta blockchain, a legally binding copy of the contract is created
  • AI Legal Agent: You’ll also get an Artificial Intelligence robot that will make you aware of how the contract works plus your responsibilities as a legal party
  • Control: Whilst Agrello provides templates, these are editable and customizable to your specific situation
  • Marketplace: Every template on the Agrello blockchain is provided via an open marketplace. So legal experts can upload their templates and get rewarded in Agrello coins

​2. How Does DLT Coin Work?

2.1. Self-Aware Contracts

Written within DLT coin smart contracts, you have sub-classes.

These are like self-performing what if formulas:

So if X happens, Y can be claimed.

For example:

If John doesn’t pay his rent on time, the landlady can claim interest.

So what’s the difference between traditional legal contracts and the Agrello platform?

Well, these contingencies can enforced automatically.

It means legally binding penalties – like late rent payments – don’t have to be disputed and are much easier to enforce.

This web of reactions is written in what’s called an Obligation Ontology graph.

DLT Coin Obligation Ontology Graph

2.2. Artificial Intelligence

Contracts are complicated beasts.

They’re slow to administrate, expensive to enforce and time consuming to manage.

Agrello is trying to automate the whole process with artificial intelligence.

So essentially you’d have a robot representing you in the legal process.

2.3. Real World Legal Contracts

DLT coin would also link real world agreements with digital blockchain based data.

So with Agrello, you’d combine the legally binding value of contracts with the immutability of the blockchain.

And an AI robot would judge disputes on the blockchain:

Meaning you’d skip the expenses and time involved in hiring a legal team.

DLT Coin Smart Contracts

It also means disputes could be solved quickly, as Smart Contracts are automated.

DLT coin’s AI would also translate the functions of a legal contract into code, whilst handling maintenance of the contract.

So let’s say your contract changes:

e.g. The price of your rent goes up or you change your tenancy length.

The AI software automatically updates your contract.

This saves the time involved in hiring a legal team to manage the admin updates.

​3. What Problem Does DLT Coin Solve?

Legal contracts are full of complicated, technical clauses that can easily be misinterpreted.

And when two entities are working together, there’s often a bit of conflict.

This is even worse when the terms are underspecified.

3.1. Blockchain Based Contracts

Taking a legal case to court is hard work.

And enforcing contracts is even more difficult.

Why?

Because you have to go through a lengthy legal battle, spend hefty amounts of money on legal fees and manage the admin.

Plus if you’re working across international borders, you’re bound to the law of several different countries.

So all in all, it’s a complicated system.

With the DLT coin blockchain, you can make contracts trustless.

Because the blockchain is decentralized, you don’t have to rely on one single point of failure.

It’s also easier to share data between entities, because you’re working on a peer to peer network.

3.2. DLT Coin Benefits

So what’s the benefit of storing legal contracts with DLT coin?

  • The blockchain is immutable so records can’t be changed or edited retroactively

  • Because Agrello’s a decentralized model, you don’t have one single third party managing your data

  • As a peer to peer network, you don’t have one central point of failure

  • It’s therefore more reliable than storing your legal contracts in one data center

3.3. Are Blockchain Contracts Legally Binding?

If you look at existing Smart Contract platforms like Ethereum, they’re very technical.

In fact, the architecture of an ETH Smart Contract is programmed in Solidity.

Solidity is a programming language that people outside of the blockchain world aren’t going to understand.

So what’s the big problem?

Well, if you took the details of an Ethereum Smart Contract to court, your evidence wouldn’t stand up.

Nobody would understand it.

And if you compare these types of documents to a traditional contract, they’re not quite as enforceable:

  • The terminology isn’t the same

  • The code is difficult to understand

  • And Smart Contract legal clauses don’t work in the same way

Therefore, DLT coin is aiming to create a type of smart contract that’s more admissible in court.

So DLT coin contracts would mean:

  • It’s easier to understand the legal terms (even though it’s written on the blockchain)

  • Obligations of all parties involved would be clear

  • Legal entities such as lawyers and courts would be able to understand the terms better

  • There would be meta data that clearly outlines the legal responsibilities of everyone involved

3.4. Bringing Smart Contracts To The Real World

The Internet of Things is expected to a huge industry.

Yet most blockchain based apps aren’t integrated with offline technology.

This isn’t a problem within the legal industry specifically, but Smart Contracts are very speculative right now.

We’ve not really seen Smart Contracts interact within the real world.

Sure, there are things like CryptoKitties, where you can buy digital assets with Smart Contracts.

But where’s the real world use case?

And how can we link offline agreements with blockchain technology?

DLT coin is one of the few cryptocurrencies to bridge the online/offline blockchain gap.

3.5. Reducing Legal Costs For SMEs

I can’t see Agrello being used for major legal contracts just yet.

Because the blockchain is an emerging technology, it’s too risky for managing multi-million dollar contracts.

These types of legal agreements are also full of complicated, ambiguous clauses.

However, I think Agrello will be targeting smaller enterprises:

Why?

Because SMEs don’t have the time, resources or legal expertise to enforce contracts.

Yet SMEs are constantly dealing with legal contracts.

For example, let’s look at the real estate industry:

You have hundreds of thousands of landlords.

And they’d be perfectly suited to DLT coin.

How?

Well, they’re constantly managing small, low level legal contracts that they need to manage.

But that’s a time consuming job they could quickly cut out with Agrello’s technology.

​4. Why Do You Need DLT Coin?

So DLT coin is a form of cryptocurrency.

Because it’s powered by the blockchain, their DLT token runs are the form of exchange for every transaction.

But I haven’t seen exactly why DLT coin is being used as an alternative to Ethereum or other cryptocurrencies.

There doesn’t seem to be a USP here (yet).

However, there is one main use case.

4.1. Rewarding The Community

So the actual contract templates created on the Agrello blockchain are uploaded by their community.

It’s a way of crowdsourcing contributions.

DLT Coin Agrello Delta

Legal experts can go onto the marketplace, upload a contract template and then they’ll be rewarded for their time and effort with DLT coin.

But why crowdsource contract templates?

Because these rewards are a user engagement strategy:

  • It’ll grow Agrello’s user base and their library of templates

  • Therefore Agrello’s value may increase

  • Crowdsourcing contract templates increases engagement in DLT coin’s community

  • DLT coin could increase in value as the community becomes more engaged and grows

​5. Is DLT Coin A Good Investment?

Here’s what I like about DLT coin so far:

  • checkDLT coin is a really interesting and innovative concept within the legal industry
  • checkThey have an unique way to crowdsource new templates by rewarding their community with DLT coin
  • checkSimplicity sells. Just look at the success Uber and Google. And DLT is trying to create more simplicity in the legal industry
  • checkThe legal industry is worth billions of dollars – can Agrello Delta tap into that?
  • checkThe blockchain’s reliance on smart contract technology is only going to grow in the future
  • checkDLT coin could potentially solve the problem of complicated, time-consuming legal disputes

​6. Is DLT Coin A Scam?

So why wouldn’t you invest in DLT coin?

Here’s a few problems you need to consider about the Agrello project:

  • Poor marketing team and a low budget brand
  • They don’t really engage with their community on a one to one basis
  • There’s no personal feel to the brand – making it feel more like a corporation than a community of cryptocurrency enthusiasts
  • They handled their recent Q & A pretty poorly
  • Is blockchain based evidence going to be recognized and enforceable in court?
  • Do people understand the legal power of Smart Contracts outside the blockchain world?
  • Agrello Delta are competing against Smart Contract giants like Ethereum
  • Cryptocurrencies like ETH have much bigger, more engaged audiences

6.1. Lack Of Community Engagement

Whilst the idea of DLT coin is cool, I didn’t like the way they’ve handled their recent Q&A session.

People took the time to ask their team loads of questions:

Yet the DLT coin team haven’t answered of their community’s concerns just yet.

And that kind of response annoyed the Reddit posters.

DLT Coin Agrello Delta Sub-Reddit

Why host a Q & A session if no-one’s going to answer any questions for a few weeks?

I mean Reddit AMAs are usually instant.

Q&s are an opportunity for marketing and PR purposes:

But I actually feel like it’s only hurt the DLT coin brand.

Plus potential investors will:

  • Read the lack of responses from the Agrello team
  • See that they’re not a responsive company
  • Assume they’re simply too small or just lack the resources to support and engage with their community.

Either way, it’s not a great sign.

6.2. Poor Marketing Capabilities

In general, I’m not impressed by the Agrello team’s marketing capabilities.

And if they can’t market the product properly, DLT coin will struggle to achieve mass adoption.

The Smart Contract world is one that’s going to be very competitive, very crowded and full of big players.

Does DLT coin have the marketing power to compete?

Not from what I’ve seen.

6.3. Branding

If you look at DLT coin’s branding, it just feels a little old.

And branding can make or break a project.

DLT Coin Branding

Sure, Agrello might be working on some of the most advanced artificial intelligence technology in the blockchain world.

But there’s no signs of it.

Would you really trust a cryptocurrency that can’t design a nice website with your most fragile legal contracts?

Most enterprises wouldn’t.

So there’s a bit of branding gap that DLT coin needs to work on:

And if they don’t improve, most investors won’t take them seriously.

6.4. Can You Legally Enforce Smart Contracts?

Undeniably, Smart Contract technology is powerful.

But it’s just not legally recognized in most legal systems yet.

In fact, it’s often the case that Governments are against the idea of cryptocurrencies:

Just look at China and India’s ban of cryptocurrency for instance.

With that in mind, will blockchain powered smart contracts be taken seriously in court?

And are Agrello’s contracts valid evidence for a trial?

I feel like Smart Contracts have a future in the legal industry.

Yet they’re more likely to be created by legal enterprises that can partner closely with the Government.

And I haven’t see any information stating that Agrello is doing this just yet.

6.5. What Added Value Does DLT Coin Offer?

One of the biggest criticisms of DLT coin is that data managed on the blockchain doesn’t really involve the token.

So there’s no use case for it:

You don’t need DLT tokens to administer contracts on the Agrello platform.

(Aside from rewarding it’s community for uploading new contracts.)

And when I checked Agrello’s white paper, Reddit community and their Twitter, they seem to skip the use case of their token.

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