Trakti | Smart Legal Contract Blog - Page 2 of 15

Designing for contract automation – simplification and relational contract

on April 13, 2022

The reasons for automating contractual processes or workflows are many but even more numerous are the reasons for implementing simplified and relational contracts.

Simplification and relational contract allows new relational models and more effective and efficient performance require the adoption of innovative technologies. In an era where businesses increasingly have to depend on their suppliers to lower costs, improve quality, be compliant, respond quickly to changes, traditional contracts don’t work.

La gestione contrattuale end-to-end incrementa le performance aziendali

on March 21, 2022

Le aziende possono trarre ingenti vantaggi da un uso più consapevole della tecnologia. La soluzioni di gestione contrattuale end-to-end permettono oggi di monitorare tutte le fasi del processo contrattuale e produttivo attraverso la loro automatizzazione. Un approccio integrato consente di semplificare molti processi aziendali e di migliorare la relazione con i clienti ed i fornitori.

Smart Contracts un’opportunità per le imprese

Contratti Smart: un’opportunità per le imprese

on March 16, 2022

La profonda e capillare evoluzione tecnologica degli ultimi anni ha fortemente plasmato le funzioni e le modalità di gestione delle imprese.
Grazie all’introduzione dei contratti smart (o contratti intelligenti), un’azienda oggi è in grado di migliorare le proprie prestazioni, velocizzare i processi e le trattative, riducendo al tempo stesso, costi e rischi.
I contratti tradizionali possono richiedere molto tempo per essere eseguiti. Si sono registrati numerosi casi di violazioni e di mancanza di fiducia in questo tipo di contratti, sia nel settore privato che nel settore pubblico.

Increase customer success via smart contract

Increase customer success via smarter contracts

on March 14, 2022

New contract management solutions are popping up all the time. This push towards new technology makes it hard for businesses to tell a platform with real merit from a flashy gimmick. It’s easy to get lost in a sea of endless choices. But the long and short of it is this: Companies that understand the benefits of blockchain and other technology will likely be positioned to increase customer success via smart contracts.

Smart contracts and blockchain technology are relatively new developments in contract management. So far, we have seen the adoption of smart contracts help with MBO programs as well as make contract negotiation and renewal a snap. Making the process of signing a contract easier for clients is one way to keep everyone on track as well. Perhaps most importantly, the fast transfer of reliable data through a blockchain and the ability to automate payment and contract execution also drastically reduce the amount of time it takes to get paid.

Drawing up agreements in preparation for smart contracts

How to design your templates for smart contract adoption

on March 9, 2022

Legal drafting is changing. And legal design for smart contract is part of the equation.

Smart contracts and legal design have marked the transition to an approach that conceives the contract not more as a means of defense but as a functional one, as a means for achieving the purpose; in short, a result-based approach. So how we can use legal design principles to organize our templates for smart legal contract adoption. Let’s have a look!

Reading time: 4 minutes.

A story about brown M&M`s, trust, fulfilment, and smart legal contract

A story about brown M&M`s, trust, and smart legal contract framework

on February 17, 2022

As declared many times, our objective is to diffuse a Smart Legal Contract framework to facilitate compliance and control with less overhead. Smart legal contract are automating controls and increase the efficiency of companies.

As we know contracts often include collateral or penalties for non-compliance. The purpose is to make the possibility of fulfillment of the contract more likely. Sometimes the lawyer’s creativity in securing the other party’s compliance is noteworthy!

I was so impressed and amused to discover how a rock band (Van Halen, to be precise) used candy to show whether a contract had been carefully read and, therefore, whether the band’s complex, and potentially dangerous, technical requirements were likely to have been met!

Reading time: 5 minutes.

Trakti A Beginner's Guide on How Smart Contracts Work

A Beginner’s Guide on How Smart Legal Contracts Work

on February 4, 2022

Smart contacts are a great way of helping you exchange property, money, and shares without the fees, hassle, and services that come along with them. For example, when you go up to a vending machine, all you need to do is drop the money in and the snack or drink comes out. Same with the smart contracts.

A smart contract works the same way – all your need is to have the required token into the wallet and whatever you have paid for automatically gets deposited into the recipient account, making it so much easier and more efficient than a traditional contract.

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