2018 July

Sagewise Seeks Feedback For Arbitration Tool to Ease EOS Controversy

The present controversies swirling around EOS and its recent freezing of a number of accounts — and the opaque way in which those decisions were made — present a golden learning opportunity for the crypto community. As the toolkit for smart contract dispute resolution, Sagewise is uniquely positioned to contribute to solutions. To that end, today we are releasing a tool to help verify frozen accounts and seek feedback from the EOS community.

First, we want to provide some background on the current situation and where Sagewise fits in. Shortly after the launch of the EOS blockchain in June, ECAF (its arbitration arm) began requesting freezes on certain accounts because of suspicious activity and evidence of theft. In taking this action, the body did not clearly communicate the procedures it had followed in making its decision. In one instance, it issued a freeze order and stated that it would later release the logic and reasoning behind the freeze order.

It is this apparent lack of transparency, rather than the actual freezing of the accounts, that has generated most of the backlash. In the eyes of many in the community, it runs counter to the ethos of decentralization that underpins blockchain.

There are also 19,587 wallets — representing 3.3 million EOS tokens — who lost these assets when the token migrated from Ethereum to the EOS blockchain. These are almost entirely people who bought the coin on secondary markets in the U.S., China, and other jurisdictions where EOS did not directly offer it. Because they purchased through secondary markets such as Binance, these holders did not receive instructions for participating in the token swap, and now that the swap has occurred, the smart contract is frozen and the tokens are effectively lost.

Sagewise offers a tool to the EOS community that solves this lost-during-the-swap problem as well as a solution for those who used a compromised tool to generate their EOS private and public keys. The tool provides transparency regarding any actions taken from within frozen accounts. Essentially, it allows someone to show evidence that they own an Ethereum address and to provide an EOS address to which they would like those tokens delivered. It also gathers and reports all data regarding both EOS and ETH contract balances and relevant actions. Ownership of an Ethereum address can be independently verified by the holder’s signing keys. This verification can be confirmed by any independent third party, adding to its reliability. Additionally, Sagewise will provide users with an easy to use guide to aid in registering a new EOS address association when needed.

We seek feedback from the EOS community on this tool. Try the EOS Verify tool here. You can view the code here, here, and here, as well as a video demo here.

While Sagewise is providing this tool, and it will be up to the community — which now fully controls the EOS blockchain — to determine how to use it. The community may decide that those who lost tokens did so as a result of dishonesty or negligence, and decide not to attempt to restore their lost assets. Or it may decide to give them a chance to be made whole in accordance with a set of guidelines. Whatever the outcome Sagewise is committed to providing solutions to help the community.

Fastcase Honors Amy Wan as “Fastcase 50” Honoree

Fastcase Honors Amy Wan as “Fastcase 50” Honoree

The Award Honors 50 Innovators, Visionaries, and Leaders in Law

Legal publisher Fastcase today announced Sagewise CEO Amy Wan as a “Fastcase 50” honoree. Selected from online nominations, the award recognizes the year’s smartest, most courageous innovators, techies, visionaries, and leaders in the law. Many of the 2018 honorees are pioneers in the areas of access to justice, artificial intelligence, and visualization tools for legal data.

View the 2018 winners at www.fastcase.com/fastcase50/2018

Since the inaugural awards in 2011, the Fastcase 50 has illuminated entrepreneurs and visionaries who are catapulting law and legal technology into a new era. The Fastcase 50 class of 2018 represents a diverse group of lawyers, legal technologists, policymakers, law librarians, bar association executives, and innovators from all walks of life.

“The Fastcase 50 Award season is exciting for us each year, as we get to honor a collection of smart, driven innovators with a passion to improve our profession,” said Fastcase CEO Ed Walters. “It’s fun for our team each year to draw inspiration from our heroes, many of whom are doing terrific, unsung work at the frontiers of law.”

Some Additional Details About Hedera Hashgraph

We’ve received a great deal of feedback since we announced that Sagewise would work with Hedera Hashgraph. In response, we want to go into a little more detail here about the specifics of the collaboration and what it does and does not mean for Sagewise’s own roadmap. First of all, we want to reiterate how excited we are to be working with the Hedera Hashgraph team. They’re building an exciting platform and we look forward to being part of their exciting growth in the future.

We also want to address some questions and concerns that have been raised by the community. Most importantly, we want to emphasize that working with Hedera Hashgraph does not mean we are leaving Ethereum. We recognize both the technological advantages and the broad reach of the Ethereum blockchain – it’s one of the reasons we decided to build our platform on it in the first place. On the contrary, Hedera Hashgraph, for a number of reasons that we will outline, is completely compatible with our work on Ethereum. At the same time, it offers additional benefits that we believe will materially advance our efforts to build the industry’s leading smart contract dispute resolution system.

The first benefit, as already touched on, is compatibility. The Sagewise platform can easily be ported to Hedera Hashgraph because it will support Solidity smart contracts with no changes required. This compatibility makes working with Hedera Hashgraph a true win-win, since we are able to leverage the specific benefits it offers without needing to sacrifice the obvious advantages and scale of Ethereum. Our developers are able to use the same Solidity code they use to build on that blockchain to build functionality utilizing Hashgraph. In short, we get the best of both worlds.

Hedera Hashgraph also offers tangible benefits to Sagewise that we expect will make a real difference in the quality, speed, and affordability of our service. Importantly, it promises to be faster and cheaper than Ethereum. This is something we cannot ignore at this stage of our growth; at current gas prices, we would not be able to scale as quickly or as comprehensively as we want by building on Ethereum alone. And the Hedera Hashgraph APIs will have unique, innovative features that present significant benefits to Sagewise. Among these is a best-of-its kind file system with cutting-edge features like provable deletion. We intend to use this to augment Sagewise’s system on Hedera Hashgraph’s stack.

The final thing to remember is that Sagewise has always had a goal of being platform-agnostic. Since we’re a middleware layer providing infrastructure for smart contract suppliers, we need to make sure we’re wherever our customers are. Using Hedera Hashgraph moves us toward that goal. It has emerged as a major player with enterprises, which is where we see much of our growth in the future. Hedera Hashgraph’s compatibility with Ethereum, its suite of exciting, cutting edge features, and its presence among our potential partners make the platform a clear win. We’re excited to build together.