Blockchain Archives - Page 4 of 8

Managing the uncertainty in contracts with a shared approach

Managing uncertainty in contracts with a shared approach

on May 17, 2022

Most of our actions and decisions involve others, inside and outside any organisation. The best solutions come from working together and the pandemic caused many people to appreciate the extent of our interdependency. Establishing a win-win collaboration framework would increase communication and clarity within a network and with suppliers.

Developing a solution together, based on shared input and mutual respect, generates a collaborative environment that simplifies coordinating and reconciling multiple opinions. Different groups and functions typically reflect different interests, and rarely organisations speak with one voice.

Increase sales compliance through contract automation

on December 3, 2021

Blockchain has the potential to fundamentally change the way organizations do business.

In the retail sector, blockchain is finding a lot of applications: from revolutionising loyalty programs and digitising product warranties to potentially allowing for the development of peer-to-peer marketplaces that could compete with the likes of eBay or Airbnb.

Let’s see how increase sales compliance through contract automation …

Reading time: 4 minutes. Photo by Cam Bradford on Unsplash

Trakti ESG Strategy & Climate clauses: Why they are a must-have Photo by Markus Spiske from Pexels

How to embed ESG Strategy & Climate clauses in your contracts and why they are a must-have

on December 2, 2021

Even though COP26‘s outcome was not perfect, it is clear that we all have a responsibility towards our planet. And now is the time to act.

Individual citizens aside, the first ones that are able to make an impact in this area are companies, especially the ones that depend on a global supply chain network (for example) or a large ecosystem of suppliers and partners.

A clear and effective strategy for ESG has become a “must-have” for businesses.

Let’s have a look at the benefits of implementing sustainable business, climate clauses and obtaining green credentials…

Photo by Markus Spiske from Pexels.

5 Steps to Sign and activate a Smart Legal Contract

on October 8, 2021

Contracts are fundamental for all transactions in the business world. But the recent market turmoil has highlighted the importance of digitalization of processes and adequate risk management.

In “conventional”, physical legal contracts, parties usually sign them with a handwritten/electronic/digital signature, depending on the form of the contract.

But as far as legal smart contracts go, how do parties sign and validate them? How can part B show its consent in adhering to part A’s smart contract? Are private and public keys used here?

How smart legal contracts can improve sales

on August 24, 2021

Ask anyone in the business world about their pain points and you’ll likely hear: sales and signatory management. Updating, monitoring, and managing lists is currently a time-consuming, inefficient, and error-prone activity for suppliers and buyers alike. At the same time, the painstaking process of proper signatory management is essential for establishing and maintaining business relationships, not to mention for ensuring compliance.

Reading time: 4 minutes.

Trakti automating control with blockchain Photo by Maximalfocus on Unsplash

Automating controls and compliance with blockchain

on July 28, 2021

Automating controls and compliance with blockchain is the next step in the digital transformation of companies of all sizes and types. Blockchain technology can create greater efficiency than we’ve ever known, while reducing delays, costs and errors.

Reading time: 3 minutes. Photo by Maximalfocus on Unsplash.

Understanding Smart legal contracts

on July 20, 2021

Understanding smart legal contracts – a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of any agreement between participants on the blockchain.

Reading time: 4 minutes.

Blockchain