smart contracts

All posts tagged smart contracts

How to handle MBOs through smart contracts

on September 10, 2021

Management By Objectives – MBO programs can be easily automated and adjusted through smart contracts to provide a greater range of options to both the HR admin and the employees they are created for.

Reading time: 4 minutes. Photo by Jessica Lewis on Unsplash.

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traktiHow to handle MBOs through smart contracts

How Smart contract tokenization rewards align your employees to your company

on September 7, 2021

Smart contracts have been designed to automate the execution of an agreement and allow parties to agree with the outcome of an event without the need for a central authority.

With the help of smart contract tokenization rewards, companies can effectively keep their workers in the loop and timely appreciate them for their efforts.

More and more companies are turning to smart contract automation, with the objective to overcome operational challenges and enhance employee productivity. 

Reading time: 4 minutes. Photo by Daniel J. Schwarz on Unsplash.

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galinaHow Smart contract tokenization rewards align your employees to your company

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.

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galinaHow smart legal contracts can improve sales

Improving your candidate selection, onboarding, and signature process via contract automation

on August 10, 2021

More and more companies are looking into ways to automate contracts and the benefits of doing so. Today, we explore the most common use cases for contract automation in HR and how you can improve your candidate selection and onboarding process via contract automation.  

Contract automation via smart contracts helps companies manage proactively the large quantities of data their HR departments deal with on a daily basis.

Reading time: 5 minutes. Photo by Austin Distel on Unsplash.

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traktiImproving your candidate selection, onboarding, and signature process via contract automation

Can automation solve the hold-up problem in contracts?

on July 20, 2021

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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traktiCan automation solve the hold-up problem in contracts?

Evolving your procurement strategy with relational contracts

on July 20, 2021

Evolving your procurement strategy with relational contracts can be used to increase contract standardization and visibility across the entire supply chain – ensuring contracts are managed appropriately to secure supply and value for the organization. 

Reading time: 3 minutes.

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traktiEvolving your procurement strategy with relational contracts

Understanding flexibility in smart contracts vs traditional contracts

on July 8, 2021

Before digging into the lack of flexibility in smart contracts let’s see what flexibility actually is.

Traditional semantic contracts are flexible. Such flexibility operates during the negotiation phase as well as at breach.  

Flexibility allows parties to use ambiguous terms, generally defined terms, commercial customs in their agreements.  

Furthermore, flexibility enables parties to shape and adapt their business relationship through modifications, amendments, sometimes arbitrarily. 

Reading time: 3 minutes. Photo by Ken Suarez on Unsplash.

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traktiUnderstanding flexibility in smart contracts vs traditional contracts