LegalFling...wants to use the app to showcase its Live Contracts, which are digitized agreements in which both the deals themselves and the various ways they're implemented are recorded in a blockchain. LegalThings wants to use LegalFling to demonstrate the ease of entering into a legally binding Live Contract, Daniels said.
"We want to show that creating an agreement doesn't have to be a ten-document-long legal document," he said.
Although the contracts are made using an app and recorded in a virtual ledger, there can be real consequences for breaking them, even when it comes to agreements related to sexual conduct, Daniels said.
"For instance, you may have consented to taking nude pictures, [and] the contract clearly states that these must be deleted upon request and may never be shared," he said. If you violate the agreement, you could be slapped with a $50,000 fine, he said.