Law Token VIRES Announces ICO, Blockchain to Usher a New Future for Legal Industry

June 18, 2018 – Blockchain is revolutionizing professional and business activities across industries. The legal profession too is looking forward to the many applications of distributed ledgers. Taking a lead in this direction is VIRES, the new IURIS-based blockchain eco-system, which is specially designed as a general gateway to create a Legal Blockchain. VIRES is now out with its token ICO for the legal coin, beginning June 10, 2018.

The VIRES law token ICO will start at 9:00AM GMT on June 10, and will last until October 17, 2018. The token has a maximum supply of 1 billion, out of which 700 million tokens will be available to the public. Ethereum will be the accepted currency for sale, with 1 ETH = 28750 VIRES. The minimum transaction amount has been set at 0.01 ETH.

Vires is an initiative to create a legal blockchain. Once you’ve entered into our ecosystem, you can manage everything. Anyone with a smartphone and an internet connection can participate in the global legal marketplace,” said a spokesperson for VIRES.

The name VIRES comes from the latin usage as in ‘ultra vires’, an act that is beyond legally ordained powers in the law.  The VIRES app will offer an intuitive interface and connectivity with smart features. These include curation of crypto news, wallet aggregation, professional networking, no expensive fees and natural language understanding.

For the legal professional, the blockchain technology such as that offered by VIRES offers a radically improved system. It will enable regulatory compliance reporting that can be easily maintained and secured over time against any alterations. While legal contracts are still written, blockchain will allow for smart contracts. Other applications include registering properties and land ownership and anchoring them to the blockchain, securing the chain of custody with digital files, and use of digital ledgers for notary work.

VIRES as a legal blockchain will allow the use of a global decentralized ledger delivering information and services to the legal industry. From the token sale, 10% of the tokens will be used for legal non-profit organization. The company’s goal is to create a legal blockchain and A.I. advising system and mash them up into a single solution. This is adjudged to be an important step to providing the public with an efficient & affordable Total Legal solution.

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