Posts Archives - Page 14 of 19

Trakti blockchain property rights Photo by Thought Catalog on Unsplash

Decentralization over blockchain infrastructures: the property-contract interface

on July 13, 2021

Decentralization over blockchain infrastructures is a fundamental aspect in the adoption of the technology and is the main reason why it has acquired increasing importance in the last decade. The technology emerged to implement peer to peer transactions of digital money that could displace commercial banks’ gatekeeping of digital transactions of bank deposits and central banks’ monopoly over the value (and therefore supply) of fiat money. And it has gone a long way since then.

Reading time: 10 minutes. Photo by Thought Catalog on Unsplash.

Trakti multicriteria vendors offers Photo by Franki Chamaki on Unsplash

Setting up a bespoke multicriteria vendors evaluation form and procedure

on July 13, 2021

You can use a multicriteria vendors evaluation form to determine the best vendor or supplier based not only on price but also on a full spectrum of concerns. Vendor assessment should support your company’s mission. It should support ethics, and business goals in the areas of technical competence and quality, cost and financial integrity, ability to communicate, social responsibility, and cultural commitments.

Reading time: 4 minutes. Photo by Franki Chamaki on Unsplash.

Understanding flexibility in smart contracts vs traditional contracts

on July 8, 2021

Before digging into the lack of flexibility in smart contracts let’s see what flexibility actually is.

Traditional semantic contracts are flexible. Such flexibility operates during the negotiation phase as well as at breach.

Flexibility allows parties to use ambiguous terms, generally defined terms, commercial customs in their agreements.

Furthermore, flexibility enables parties to shape and adapt their business relationship through modifications, amendments, sometimes arbitrarily.

Reading time: 3 minutes. Photo by Ken Suarez on Unsplash.

How smart contracts will speed up production onboarding and checks

on July 8, 2021

Solutions that utilize smart contracts have the potential to speed up production onboarding and checks and offer new opportunities to reduce sourcing risk, decrease administration cost, and improve stakeholder engagement.

In an increasingly digitised world, emerging technologies, such as blockchain, afford organisations the opportunity to drive business value by streamlining production onboarding and checks.

Reading time: 4 minutes.

Trakti Contract obligation management and control Photo by Nick Fewings on Unsplash

Obligation management and controls with Smart Legal Contracts

on June 30, 2021

Contract obligation management and controls with smart legal contracts offer a more secure and streamlined way to achieve an effective and automated contract management system.

Contract management has long been the norm for many industries looking to streamline their supplier and vendor relations. However, the process of managing contract creation, execution, and analysis has historically been plagued by inefficiencies and error due to the manual work involved. That is why we’re seeing a new standard in the form of contract obligation management and control with smart legal contracts.

Reading time: 3 minutes. Photo by Omar Flores on Unsplash.

Friction points smart contracts can solve

on June 30, 2021

The application of smart contracts can streamline transactions across the globe. Friction points smart contracts can solve begin with the automation of trust between parties. This is blockchain’s primary purpose.

Smart contracts can reduce the operational friction required to validate ownership, identity and contractual terms by allowing participants to interact directly with one another with no middlemen providing verification.

Reading time: 5 minutes. Photo by Ehimetalor Akhere Unuabona on Unsplash.

Balanced scorecards Trakti Photo by Daria Nepriakhina on Unsplash

Implementing Contract’s Balanced Scorecards: How to Measure Contract Performance

on June 14, 2021

Implementing a contract’s balanced scorecards helps organizations address weaknesses and optimize contract management.

To survive in today’s environment, companies must be flexible, service-oriented, and cost-effective. Some organizations may believe they embody these factors but have not truly measured their performance even when they’re implementing contracts. Balanced scorecards are thus necessary to offer a systemic approach to enrich the performance of an organization.

Reading time. 4 minutes. Photo by Daria Nepriakhina on Unsplash

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