Welcome to VirtuaSeal!

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Introduction

VirtuaSeal is an application that will allow users to submit information to and sign documents leveraging a smart contract on the blockchain. Specifically, the ability for users to:

  • Create a document to sign, or choose one from a list of templates
  • Add specific data to fields in the document
  • Fill in user fields and sign the document digitally, using the blockchain
  • Hashing the content of the document at each signature step
  • View the contract, including signed sections
  • Copies sent to other parties, if necessary

Blockchain Advantages

By leveraging the blockchain, we can offer significant security advantages to Document Signing platforms from centralized third parties. Some advantages include:

  • Private key encryption enforces digital security of the signature
  • Blockchain consensus mitigates cyber threats
  • Cryptographic hashes taken at every step provide peace of mind in document consistency
  • Using ICP canisters consolidates and integrates seamlessly the front-end and back-end code

Why ICP?

ICP and Motoko offer significant advantages over EVM-based blockchains. The table below details these advantages.

Ability ICP EVM
Store up to 1GB of data :white_check_mark: :x:
Updatable Smart Contracts :white_check_mark: :x:
Seamless integration of front and backend code :white_check_mark: :x:
No need for a browser plugin to access your wallet :white_check_mark: :x:

Go-To-Market Strategy

We have been building relationships with law firms, building relationships with them. We currently have agreements with two different law firms to use this product. Given the success of the product with these firms, we plan on aggressively expanding.

Monetization

Monetization will follow by charging users for creating documents after a certain limit has been reached. We want this product to be free and Open Sourced, but excessive use or enterprise level use will be charged.

Additional forms of authentication will also be considered paid services. These include:

  1. Creating competency quizes using LLM’s
  2. KYC facilitated by Computer Vision
  3. Duress detection facilitated by Computer Vision

Project Status

We leveraged an ICP grant to create the alpha version of this project. Currently, we have an alpha version running with full signing capabilities. By leveraging ICP, we have created an app where users can create documents from a template or from scratch, assign signature fields to specific parties, copy others on documents for read-only viewing, and sign documents. In other words, we are currently the first blockchain-based DocuSign competitor.

Resources

  1. Check out this demo of the project here.
  2. The Github Repo is here.
  3. See the working product here.

Future Work

We have an ambitious vision for this product. In the near future, we intend to:

  1. Integrate ICP vetKeys to bolster security on the backend, and strengthen hashes
  2. Enable revision recommendations for users to suggest edits to documents
  3. Emply AI-powered competency quizzes to determine if the user understands what they are signing
  4. Enable KYC based on Computer Vision
  5. Enable duress detection facilitated by Computer Vision
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Thank you so much for the public demo last week, @dkovach. The community was quite engaged. Glad to see vetKeys will be included in the next iteration.

A few additional points:

  1. What is the process of creating a patent?

  2. Will the product no longer be open-sourced if you receive the patent?

  3. You should consider joining the DeAI technical working group. They’re a group of AI projects building on the ICP sharing ideas, solutions, etc., and meet at 9 am PST on each Thursday in the ICP Dev Discord. It might be helpful to you as you build out the competency quizzes.

  4. Have you considered launching an SNS?

I think two key areas make sense for a DAO launch.

  1. Sourcing notaries and witnesses and rewarding them with a token. I know originally you were interested in becoming a digital notary instead.
  2. Community-built LLMs. An LLM that can generate a competency quiz will need to be trained using client data. I think it would be interesting to think more about what a DAO-controlled LLM would look like.

Hope that helps!

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