Session: Smart Legal Contracts: Harnessing The Power Of Connected Data
Up until now, legal contracts have been recorded using natural language on paper or digital documents, stored on a computer or cloud. Every person has such contracts, whether it’s for work, a telecom plan or real estate. They are either in a packed drawer or somewhere in your drive. This is a static representation of what is agreed.
What if the same contracts you have are connected to all of your digital payment accounts, your company's ERP/CRM systems, storage & databases and automatically perform the agreed upon terms? What if they pull all of the scattered data and generate reports & risk assessments for your business in real time?
- Smart legal contracts are not smart contracts.
- Decentralised development helps bring out leaked value in the form of data.
- The current contracting process is dysfunctional and fragmented.
- The successful business is the one that can pivot quickly with the help of rich data insights.
- Tech innovation doesn't have to be earth-shattering to make significant change.
Kalina has considerable experience in IT project management, e-commerce, and DLT, with a focus on new and developing markets. She is a certified PSPO and speaks English, French, and Chinese. Currently, she is managing the business operations and leading the Smart Legal Contracts team at INDUSTRIA Technology.