Today, corporate sustainability is a concept that is rooted in a conscious and ethical approach to capitalism.It embraces the idea that when value is created to be shared with all stakeholders, the long-term benefit of the company can be maximized. The rise of this concept and the integration of various environmental, social, and governance factors into decision-making are two of the most significant factors that have changed the way businesses operate.
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Ever since Blockchain technology came into play, the business world has turned its focus towards the unique selling points of this innovation. With enhanced security and privacy, blockchain technology has transformed the way organizations conduct their activities.
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Process automation and decentralised services have started growing exponentially in the post-pandemic improving business management.
By automating processes, end-to-end contract management solutions enable the monitoring of all phases of the contractual and production process. An integrated approach can simplify many business processes while improving the relationship with customers and suppliers.
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Governments and regulatory bodies are introducing new blockchain regulations to govern the frameworks for tokenised securities and assets.
Asset tokenisation has come a long way since its first mention a few decades ago. Not only has it found a place in mainstream finance and supply chains, but blockchain regulation is making strides towards standardization in the tokenization of assets.
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The world of finance is rapidly evolving, and blockchain technology is at the forefront of this evolution. One of the latest innovations to emerge from blockchain technology is Non-Fungible Tokens (NFTs). NFTs are unique digital assets that are stored on a blockchain and provide proof of ownership and authenticity. The potential for NFTs is enormous, but like any emerging technology, regulatory issues need to be addressed.
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Blockchain technology is today considered the most extreme frontier of dematerialisation. Blockchain and Smart contracts show potential, especially in the simplification and optimisation of contracting processes. When a process becomes fully digitised and automated in a transparent and immediate way, the opportunities for various industries increase.
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The contract legal approval workflow can prove challenging, tedious, and time-consuming in a contract management process. Any legal document must be created, sent for review, approval, edited, and signed, generating back-and-forth emails and calls to negotiate it, involving generally multiple people.
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