In March of 1989, Tim Berners-Lee proposed an internet-based hypertext system. At the time, he was looking for a solution for CERN to keep track of large projects. He wanted the ability to link all facets of CERN research via hyperlinks. Early on, he used a simple markup language, HTML, which would grow to be the backbone of most web pages. After several versions, Netscape, Microsoft, and the W3C came together to further develop HTML 3.2. The W3 Consortium then standardized HTML and CSS (used to style and format the layout of web pages), which led to an increase in Web presence for many organizations. The rush to build a Web presence created a gap between coding skills and demand for Web developers. This gap created an opportunity for a platform to exist which made the process of Web development, easier and user friendly.

WordPress started in 2003 as a blogging system by Matt Mullenweg. Overtime, it has progressed and developed into something we have all come into contact with without even knowing it. WordPress lets anyone create a website online, regardless of their ability to code. It is used as a full Content Management system with numerous plugins, widgets, and themes for blogs and websites. This platform was, and still is, very popular. In August of 2004, WordPress had a significant base of about 15,000 users loyal to the organization. As of 2012, the user base has increased to 60 million websites, all powered by WordPress. WordPress was an alternative to costly developers for website development.

Much like WordPress made website creation available to the average person, blockchain talent is the average person’s answer to blockchain. In a recent article by Jamie Redman, the problem is clear:

“The former chief information officer at UBS and founder of Bussmann Advisory, Oliver Bussmann, explains that typical blockchain developers are easily getting ‘£200,000 and £300,000’ for an annual salary. Additionally, Bussmann details that he believes there are only 20,000 people worldwide with this kind of talent. ‘That’s not a lot. Demand for these skills is high. To get the talent you have to pay,’ Bussmann tells the publication Financial News.”

Moreover, Solidity and Smart Contract language development is at another premium. For Alice, Bob, small business, large business, and government interactions, Smart Contract language will be critical when doing business in the 21st century. In an effort to streamline adoption, increase functionality, and expand ease of use, Pactum aims to do to Smart Contracts, what WordPress did for web page development.

Taking a look at the escrow Smart Contract

Escrow Smart Contracts, from a UX perspective, are currently ugly. They lack slick interfaces, quick construction, and easy deployment. This is a very odd problem. Ethereum’s use of Smart Contracts allows us to essentially program our money. As such, the escrow Smart Contract is, arguably, use case #1. Although there is outstanding work currently being done in the Smart Contract development arena, use case #1 has not become significantly easier to use or develop.

For someone to develop an escrow Smart Contract, that person might spend up to 2 weeks learning about Ethereum, setting up the environment, learning solidity, and developing the Smart Contract to deploy. Admittedly, there has been some progress made here, but not enough and some solutions miss the mark.

Etherscripter is an awesome website that allows users to piece together Smart Contract language, through the use of puzzle pieces, to create a Smart Contract. Here is an example of their sales contract:

It is a fun tool to build Smart Contracts; however, most individuals do not know how to code business logic. For example, my neighbor, who does not know how to code, will not find this tool easy to use. In other words, this tool is easier for those who know how to program business logic. Additionally, it looks complex from a UI perspective.

Another attempt is being made by Dr. Christian Reitwiessner and his development of Babbage, a mechanical Smart Contract language. The attempt here is to create a visual programming language where even untrained people are able to grasp it. It consists of pipes, valves, rods, and levers to create the Smart Contract. Here is an example of a simple escrow Smart Contract:

This is an impressive tool for individuals to use to create their own Smart Contracts. One can visually see where Ether flows, stops, transfers, etc. However, at first look, this looks slightly complex. As a user, I would still need to learn all of the intricacies of this language and practice it. From a UI perspective, this is not friendly as a user. I still need to understand the business logic behind such elements as release pipes, abort functions, and other components.

We at Pactum aim to close this gap by having a user friendly GUI that will accomplish Smart Contract creation, deployment, and finalization. Below is an example of how we close the gap on use case #1, the escrow Smart Contract. Users simply input the necessary information and click on their desired choices; we make Smart Contract creation easy for everyone.

This is just the beginning. Like WordPress, users will be able to create complex, custom Smart Contracts using such an interface. Follow our development and progress.

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