Sarah Giannelli

How to conduct KYC checks (properly)

on November 7, 2022

KYC and related processes such as Anti Money Laundering and identity fraud controls are one of the main challenges that companies and institutions are facing at the moment. 

These procedures are timely and expensive, and many businesses have had to update the way they conduct KYC as they could not rely on the standard methods they had adopted.

Luckily many innovative solutions exist to make the whole thing much quicker. And less expensive. All this while connecting to international databases and making it part of an automated stream for customer and supplier onboarding.

Reading time: 4 minutes.

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Sarah GiannelliHow to conduct KYC checks (properly)

What is DEFI and why it is important for companies to apply it in contracts

on November 2, 2022

The acronym “DeFi” stands for decentralized finance. Think of it as an umbrella term for a whole huge financial infrastructure that focuses on and empowers decentralization. DeFi is closely related to cryptocurrencies or rather – the blockchain technology that underpins them. As such, it is important to understand what is DEFI and why it is important for companies to apply it in contracts.  

Definition of DeFi  

Being decentralized means that contracts can function without a middleman. When it comes to financial transactions and supply chains, that middleman can be anything or anyone – a bank, an individual acting as an escrow, a developer who has written code for the application that you’re using, and so on. 

Following that train of thought, the main benefit of DeFi is the fact that it allows for trustless financial processes to take place within its ecosystem. For companies that deal with multiple vendors or suppliers, this could mean thousands of dollars in savings. When you think about what is DEFI and why it is important for companies to apply it in contracts, think of it in the context of optimization of existing processes and operations. 

Smart contract and token usage 

We have talked about smart contracts in the past. A smart contract is an agreement that has been coded into the blockchain. The main advantage of smart contracts is that they are practically impossible to breach – once a contract is submitted to the blockchain, there’s no turning back, and no way to reverse it or change its settings. 

Smart contracts are the gateway into DeFi applications as they are completely trustless, and do not have any third-party interference. 

More and more organizations are harnessing the power of the open-source financial ecosystem to solve problems and create new opportunities. 
 

Benefits of DeFi 

One of the biggest trends in the DeFi sector is the emergence of cross-chain technology, which allows users to carry out transactions across multiple blockchains. This is a bandwidth solution that can be used to distribute the burden of demand. Other trends that are gaining momentum include the automated market-making capabilities of Uniswap, the ability to manage assets on YFI, and the faster transactions on Aave. 

The rapid emergence and evolution of the DeFi movement have taken it beyond its traditional role as a speculative trading platform. It is now taking on a more utility-based approach, with the goal of making it easier for users to exchange fiat money for cryptocurrency. The success of the movement will depend on the various factors that affect its utility, such as transaction fees, speed, and systems. 

As the world experiences new challenges, players in the financial industry continue to develop new ideas. With the support of strong momentum, DeFi is well-positioned to transform the traditional paradigm by helping companies manage their assets, including — buying, selling, and transferring digital assets. 

Transparency and decentralization are paving the way to discover and analyse an unprecedented amount of data. With faster access to data, businesses can make well-informed business decisions, discover new financial opportunities, and adopt better risk management tactics. 

Get your company DeFi-ready with Trakti’s automation tools.  

To better understand the definitions related to the use of Smart legal contracts and the Trakti platform, download now your copy of the Trakti Smart Legal Contract Glossary: https://trakti.com/smart-contract-glossary/

To find out more about Trakti, go to: https://www.trakti.com/why-trakti-en/

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Sarah GiannelliWhat is DEFI and why it is important for companies to apply it in contracts

What you do and don’t own, when you buy an NFT

on October 25, 2022

2021 was a landmark year for the popularity of NFT and it seems that this trend is going on and becoming greater and greater. But not without huge legal implications with respect to copyright, ownership and contractual liabilities, just to cite a few.
What you do and you don’t own, when you buy an NFT.

Let’s start from the beginning, trying to bring some light to this innovation.

Tempo di lettura: 2 minuti.

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Sarah GiannelliWhat you do and don’t own, when you buy an NFT

How Integrate PayPal into an onboarding process

on October 15, 2022

The digital onboarding process is becoming more and more popular with competitive advantages for different sectors of a business. 

It is an effective tool also for Sales, for the acquisition of new customers and for the retention of existing customers, capable of improving and simplifying the Customer experience as well.  

Through the adoption of a platform for contract automation, the onboarding process becomes compliant, agile and intuitive for Sales.
It can simplify and speed up the entire negotiation, including payments, integrating PayPal into an onboarding process. 

Reading time: 3 min

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Sarah GiannelliHow Integrate PayPal into an onboarding process

Trakti meets Adrian Furner: “Risk, an opportunity for innovation”

on October 14, 2022

Today Trakti meets Adrian Furner, Founder & Managing Director at Kommercialize, to talk about risk as an opportunity for innovation.

We have previously met Adrian Furner, on the 4th of October, during his valuable contribution as a guest to our recent webinar “Contract Automation, Benefits and Contexts.”  

Watch the integral version here: What is Contract Automation, Benefits and Contexts.

Adrian Furner has over 30 years of experience in the design, implementation, and delivery of complex commercial transactions through novel business models.   

A super master contracting expert, and member of the IET (Institution of Engineering and Technology), Adrian is a former board member and an honorary fellow of ‘World Commerce & Contracting’ where he is also an Executive in Residence.  He is also co-founder of Open Fabric for Trusted Global Trade.   

Today his practice is to advise professional firms on how to boost up their commercial competencies as well as Contributor, Speaker and Author of several books on commercial agility, collaboration and commercial innovation.  

Adrian is a leading light for innovating contracting in companies of all sizes!

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Sarah GiannelliTrakti meets Adrian Furner: “Risk, an opportunity for innovation”

Qualificazione e onboarding dei fornitori: definizioni e flussi per gestirli con successo

on October 7, 2022

La pandemia COVID-19 ha costretto i team di procurement a ripensare l’intero processo di onboarding, sia con riguardo ai fornitori attivi  e sia nei confronti dei nuovi fornitori che aggirano il processo di qualificazione per l’onboarding iniziale per mantenere il flusso operativo.

Tuttavia, la gestione delle qualifiche dei fornitori (SQM) è essenziale per mitigare tutti i rischi connessi al processo di onboarding, che possono influire seriamente sulla tua attività. Ecco perché in questo articolo definiremo cos’è la qualifica dei fornitori e perché è necessario implementarla.

Tempo di lettura: 3 min

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Sarah GiannelliQualificazione e onboarding dei fornitori: definizioni e flussi per gestirli con successo

Resilienza della catena di approvvigionamento di fronte a una pandemia globale

on October 7, 2022

La pandemia del COVID-19 ha avuto un effetto drammatico sul commercio globale, ha sconvolto industrie, economie e la catena di approvvigionamento. I periodi di blocco prolungati hanno causato uno shock alla domanda e all’offerta.

Governi, aziende
e singoli consumatori hanno lottato per procurarsi prodotti e materiali di base. La maggior parte di loro si sono ritrovati inoltre costretti a confrontarsi con la fragilità della moderna catena di approvvigionamento, per ottenere una migliore resilienza della stessa.

Tempo di lettura: 4 min

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Sarah GiannelliResilienza della catena di approvvigionamento di fronte a una pandemia globale