All posts tagged Blockchain
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
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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.
Read moreContracts 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?
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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.
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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.
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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.
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A hold-up problem in contracts is the situation where after one party has made some relationship-specific investment, the counterparty refuses to fulfil the original terms of the contract asking for better conditions.
Reading time: 4 minutes. Photo by Kai Pilger on Unsplash.
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