Trakti Smart "Legal" Contracts Blog

Business is going digital and digitisation has spread throughout all areas of private law, including inheritance law. “Digital inheritance” is a term in law, and refers to the transfer of rights to digital assets.
A Digital asset can be defined as a personal property owned by an individual which is stored in a digital form, therefore any digital data that a person leaves, after his death, stored on diverse types of digital devices and in the cloud. This includes a multitude of digital formats and their respective metadata: from your online accounts, including banking information, to social media passwords.

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The no-code movement is a trend that can also offer a lot of potential benefits for the legal and administration sectors.
According to Gartner, no-code and low-code application development will be responsible for more than 65% of application development activity by 2024.
No-code platforms can revolutionise the way legaltech approaches its internal innovation and automation of key tasks.
No-code tools and technologies can help lawyers to efficiently drive their business.
This is certainly a challenge with regards to user experience, as no code applications transform and simplify the way we can all interact with the interface of an app or software.

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Currently, ESG issues have become a major concern for businesses. To efficiently address these issues, enterprises must build quality and/or quantity monitoring systems. However, in traditional monitoring systems, data tempering and centralized storage have become barriers to reliability. Furthermore, due to lack of automation, traditional monitoring systems are inefficient.

Fortunately, Blockchain technologies and smart contract can provide all we need to overcome the above disadvantages and deficiencies.

Reading time: 4 minutes