All posts tagged Smart legal contracts
The application of the AI Act, the European Union’s comprehensive legislation on artificial intelligence , is now underway. Although the regulation formally came into force in August 2024, the first set of prohibitions only became effective on Sunday, 2 February 2025. Around 60 additional implementing measures are still required to fully operationalise the framework established by Regulation (EU) 2024/1689.
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As already said in our article here a clear and effective strategy for ESG has become a “must have” for companies rather than a “nice to have” to demonstrate that the ESG objectives have been achieved.
Organizations are feeling the pressure to redefine their own environmental goals and are starting to implement lasting changes that will reshape internal operations. Issues around the consistency, transparency, and reliability of ESG data are becoming more pressing as governments and supranational bodies in the UK and EU set new mandatory requirements for company reporting on sustainability.
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Blockchain technology is undergoing a significant transformation, particularly with the advent of Layer 2 solutions. These advancements are crucial in addressing the scalability and efficiency challenges that have long been associated with blockchain networks, particularly in smart contract development. Layer 2 solutions are designed to operate on top of the base blockchain layer, known as Layer 1, to improve transaction throughput and reduce costs without compromising security. This article delves into the essence of Layer 2 technologies, their main features, and their impact on smart contract development.
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Many people are aware of the inherent connection between blockchain technology and cryptocurrencies. However, blockchain’s potential goes far beyond digital assets, it serves as a powerful infrastructure for automation, security, and transparency in various industries. One of its most transformative applications is in smart contracts, which are revolutionizing the way agreements are created, executed, and enforced.
Smart contracts are the backbone of the blockchain. The self-executing contracts put into operation any task using a computer code and execute it by a network system without any human input following its initiation by the parties. Since a smart contract is executed and performed autonomously without risk of tampering, there are vast opportunities for implementation in the business sector. Especially when it comes to no code smart contract drafting.
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Companies can achieve better Blockchain mediation and arbitration with smart contracts. Blockchain’s capacity to expedite and simplify the entire commercial process will have a flow-on benefit to both the enforcement and procedural components of arbitration.
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Lawyer and Smart legal contracts: legitimate fears and concrete opportunities? How many times years ago have I wondered? How many times before deciding to take this path, I wondered if the blockchain, smart contracts and everything revolved around it constituted a new opportunity, the solution I was looking for, or if instead they would simply replace me, put me on the corner.
I glimpsed, but did not fully understand.
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Looking into the future we’re on the road to a new world where everything is linked and potentially possible.
People get connected with other people physically, through avatars, online tools, and any element that belongs to this new world. Rather than one device handling every calculation, a network of devices can now do this instead, benefitting of the cooperation of an entire network.
Every data is accessible, every service is sensing, automated, connected and shared…
We are on a new planet where industries totally shifted from inflexible, monolithic methods to more modular and microservices approaches.
But let’s imagine moving forward in time for a sec.
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