‘Sign here, here and here’. Signing a contract makes me a bit tense, those are not the contracts of the future I would like to have or sign.
Contracts nowadays don’t serve people as they should. They are unnecessarily hard to write and read. The endless legalese makes them a daunting matter. Their binding power is not bulletproof.
There are 19.972 words in the iTunes terms and conditions. Shakespeare’s Macbeth has 18.100 words. When you click “I agree”, you’re saying to iTunes that you have read something longer than Macbeth.’ In short, today’s contracts do not enable optimal and risk-free decisions.
At Trakti we are crafting contracts of the future to serve people and businesses not the other way around.
Reading time: 4 minutes, Photo by Joshua Sortino on Unsplash
If you work at a large enterprise, you know business ecosystems can get complex. You also know how much is important to work in a trustworthy business ecosystem.
With liability scattered among multiple parties, the contracts reflecting all those transactions and agreements also grow in complexity. Companies need a trustworthy business ecosystem where they can operate in confidence and manage contracts efficiently.
Smart Contracts operating on the Blockchain provide just that, but how to start using them?
Reading time: 3 minutes, Photo by Alexandra Gorn on Unsplash
Contracts are assets to manage business risk. They are essential for the containment and control of costs, for the prevention of damage and for the actions of counterparties. Contracting and compliance are intertwined facets and require methodical oversight. An effective contract management plan not only enforces compliance and mitigates risk, but also ensures better relationships between contractual parties.
Reading time: 3 minutes , Photo by Alexandre Lion on Unsplash