Monax is a legal technology company that focuses on making digital agreements easy and secure for businesses. The UK-based company was founded in 2014.
Monax provides a contract lifecycle management (CLM) platform that uses blockchain technology, enabling users to create, store, and manage contracts in a secure, decentralized environment. This approach ensures the immutability and transparency of contractual transactions, which can be beneficial for businesses operating in highly regulated industries or handling sensitive information.
Monax's platform includes capabilities for contract creation, collaboration, execution, and storage. It's designed to be highly customizable, with features that accommodate a wide variety of agreement types. One of its distinguishing features is the use of "smart contracts" – self-executing contracts with the terms of the agreement directly written into lines of code. Monax has a REST 2.0 API to integrate seamlessly with existing systems at any scale, and is integrated with Zapier (an automation tool that helps businesses connect different apps and services to automate tasks) to connect to 2,000+ apps and enables custom workflows and complex process models without a single line of code.
Monax differentiates itself from its competitors through its emphasis on blockchain technology, offering an innovative approach to contract management that harnesses the security and transparency benefits of distributed ledger technology.
