Smart contracts Archives - Page 2 of 8

Trakti: the no-code smart contracts platform

on January 29, 2025

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.

Parametric insurance: why adoption has become a must!

on August 27, 2024

In the insurance industry, blockchain technology is already proving to be a game-changer. With the increasing use of smart legal contracts, insurance companies can now benefit from increased transparency, and efficiency in their operations through the use of parametric insurance.

Smart legal contracts and parametric insurance are both technologies that can be used to automate and simplify certain aspects of insurance contracts and can be used together to create more efficient and reliable insurance products.

Reading time: 4 minutes

Open banking and contractual automation to reduce financial management costs

on March 12, 2024

Open Banking is an innovative model for banks and the financial industry. We can define open banking as a digital technology that revolutionised banks and financial services. Its aim is to establish, support, and strengthen clients’ trust. It allows banks to offer more agile financial services to their customers, helping them to make better decisions, and save money.

When Open banking comes with contractual automation, it can reduce financial management costs.

Digital disruption, FinTechs and Regulatory compliance such as the Revised Payment Services Directive (PSD2) have accelerated the competition in the financial sector and forced banks to open and speed up their systems.

APIs are used for sharing financial data in the open banking ecosystem. Using API, banks can now remodel and innovate their core systems.

Reading time: 4 min

Blockchain mediation and arbitration with smart contracts

on July 6, 2023

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.

Reading time: 3 minutes.

NFT and copyright: why you need a Smart legal contract to cover all the elements

on May 5, 2023

NFTs are business keys of the future “metaverse”. The Non-Fungible Tokens (NFT) indicate a digital certificate of authenticity to uniquely identify a digital product created on the internet.
Each NFT contains a unique serial number, known as a hash. This cryptographic key is generated from a specific digital file and makes NFTs traceable and incapable of duplication.

However, while technological progress advances, a review of the protection system is required to follow digital development and to guarantee legal protection, even to NFTs.

Reading time: 5 minutes

How to align procurement with business requirements

on April 4, 2023

Business requirements should inform every investment in new software and technological infrastructure. You don’t launch a new project, purchase a new piece of software, or develop a new process unless it’s in response to a core business need.

But understanding exactly what that need it can be a challenge in itself. It starts with learning how to align procurement with business requirements.

Taking the time to carefully identify, analyse, and document your core business requirements can lead to a smoother procurement process with an outcome that delivers measurable results.

Reading time: 4 minutes

No-code platforms are drivers of innovation in contract automation

on February 20, 2023

Companies rely primarily on IT professionals to write the scripts needed to keep operations running smoothly.
What happens if there is a shortage of staff?
This issue can leave many organisations with interrupted or malfunctioning processes due to a lack of adequate staff and proprietary knowledge to solve the problem at the source.

The introduction of no-code automation platform resolves these problems, empowering teams of any skill level to manage IT operations seamlessly.

Reading time: 3 min

Smart contracts