Smart Legal Contracts are capable, in principle, of forming binding contracts which will be upheld under English law. This may mark the beginning of a new era! The evolution of property in contracting is becoming real! The adoption of Smart Legal Contracts and the scope of legal principles in contract under English law is evolving: a summary of the Law Commission report on Smart Contracts.
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Globalization – and now the COVID-19 pandemic – created new barriers to doing business but also presented new opportunities for the increased adoption of blockchain technology. And more specifically – smart contracts.
Examining the current Regulatory Framework For Smart Contracts and opening a debate for potential improvement in the existing regulatory framework for smart contracts is the objective of this article.
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Smart contracts and tokens for supply chain automation are of paramount importance.
Tokens are digital entities that may be used as a digital representation of physical assets (ingredients, subproducts, etc.) and information. Furthermore, with tokenization, suppliers reap the ultimate benefits of blockchain assets. Tokenization forbids duplication, making it non-fraudulent and ensuring accurate tracking and proof of ownership in a transaction. And not just these.
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How can smart contracts and tokens support your fidelization strategy? How can you enable customer loyalty in the physical world? How your company benefits from utilizing them?
Tokens can provide valuable data to help retailers better understand their customers, becoming a key to a more effective ad-targeting, and, ultimately, to a growth in sales.
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How procurement is evolving over time and how procurement will evolve to smart procurement in the digital age?
As strategic sourcing becomes more predictive, transactional, data driven procurement is becoming more automated, and supplier relationship management is becoming more proactive. Smart procurement in the digital age need to be integrated through intelligent procurement operations that help companies reduce risk and scale to their growing needs.
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Lots of companies still manage the supplier onboarding process manually, however expensive, time consuming and inaccurate it is. How to accelerate onboarding and reduce counter-party risk? What if you can easily handle it thanks to a single smart automated solution?
Trakti provides KYC and AML integration with trusted third party software to accelerate onboarding and reduce counter-party risk. Our end to end solution automate and simplify suppliers checking, tracking and auditing during the onboarding process. Our integration with trusted partners like W2, Spaziodati and Qii reduce your contract counter-party risk and effectively combat financial crime with compliance solutions.
Read the article to discover more.
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Why is technology important when talking about contracts? Well, because you want your business to be up-to-date, you want to have both enthusiastic clients and employees and most of all you want a growing quality company. To achieve these goals, you need to make procurement smarter, faster and more transparent. In other words, you need a Smart Contract Lifecycle Management (SCLM) solution to track trace and automate your contracts.
There is more than a reason you should switch to a smart legal contract management solution, and we are going to analyse all of them in this article!
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