What is Alehub?
ALE is a platform for creating decentralized services of project management based on blockchain. One of the main ALE features is to support multilateral smart contracts. With their help, especially due to the possibility to automatically administrate the relationship of the parties, the
trusted operating environment is guaranteed. Besides that, legal practice as any other practice which deals with the contract allows to amend any arrangements with new conditions during the process of work. Thanks to ALE, smart contracts can be supplemented by new terms until their execution, thus creating the “contract tree”, or the project structure by another name.
ALE offers the solution in creating spaces, where the trusted or contractual relationships are replaced with the relationships in the environment highly regulated by infrastructure. Within one specific space it is possible to enter into unlimited quantity of contract types (like development contracts, testing contracts, recruiting contracts, nondisclosure agreements and etc.) with conditionally unrestricted number of parties. Conditionality resides in the available computing capabilities of the network. The members of the process can be represented by any party of business relationship responsible for any process. If draw an analogy to conventional and common areas of contractual relationship, the parties can be represented by Employers, Employees, Customers, Contractors and Subcontractors.
Such spaces can be named with DAO (Decentralized Autonomous Organization) extension. Server- based project management systems prevail in the world these days. We are integrating DAO elements into the system to create the universal protocol. ALE does not require to “send the signatures to the contract” to authorize a transaction. ALE may only identify the changes of the corresponding condition and that would be enough for the specific tokens to be recognized as released towards one of the contract parties.
In most cases when the advanced payment to three counterparties is made in DAO the triple price reserve is created. ALE offers to make one reserve to all counterparties before contract signing. With that, the price can be reduced without changes in contract terms (for example at the time of getting discount or for Exchange Traded Commodities with rapid prices at particular time (e.g., in currency).
ALE resolves an issue of legitimization of the term “smart contract”. Such arrangement of contractual work allows eliminating the necessity of renewal of documents through the third-party services or via postal service. At the same time blockchain ensures safety and invariability of all documents.