Trustlog. About Startup and Founder.

Company name:

Trustlog Inc. (Corp С, Delaware)

Website:

Demo (sketches):




Main Idea:

Trustlog is a common formats friendly application that stores the evidence of handshake deals and promises in blockchain, makes them binding with digital signatures and provides users with mediator's assistance when needed.

Short description:

Making handshake deals legally binding

Description on real examples:

An application that helps to store everyday handshake deals as in Dropbox, to sign them like in DocuSign and to ask for legal advice as in Legal Zoom.

Category:

Marketplace

What’s achieved?

  •  We drawn all the primary application screens 
  • We have done UX/UI - normal and black theme (Figma)
  • We have a development team that ready to make MVP and 2 more teams if the first one fails.
  • We have the marketing materials, advertising setup. 
  • We tested an early stage user acquisition coast = $0.03 - $0.20
  • We collected enough community of mediators to get started
  • Legal research and collecting feedback from potential participants

Why did I pick this idea to work on? 

Our idea solves the problem that we're facing and many of our friends are dealing with. 
Informal agreements are much more common nowadays because of the growth of the gig economy. But without any records it often comes to "he said she said" battles.
People do not make a contract for various reasons. Sometimes, the agreement seems not important enough for a contract as drawing it up costs time and money. Then there is also psychological discomfort from expressing distrust.
We know from personal experience that recording agreements helps a lot if there are problems. When we explained this idea, the potential users responded very favorably.

Key points

We can reduce potential legal problems in the future by having a permanent record of the agreement stored in our application. When there are problems after a handshaking agreement, people have to pay a fortune to lawyers. Our app simplifies the process while protecting them from the beginning.
The market potential is huge, but there are no substitutes right now. For example, the gig economy needs this kind of protection as it grows.

Competitors

DocuSign, Legal Zoom and similar services. They focus on b2b and b2c markets. We are focused on the c2c service or semi-formal arrangements between people. The existing competitors may use our idea to improve the product that they already have. We are doing our best to get established enough so it would be easier to buy us than to copy us.