Getting started with blockchain smart contracts
Few managers look forward to negotiating contracts. In large companies, there are many stakeholders to consult and it’s easy to make a misstep. And then there’s the expense involved in working with lawyers.Smart contract technology promises to simplify the contract process and provide greater transparency.[ Also on CIO.com: Blockchain: You’ve got questions; we’ve got answers ]What are smart contracts? Early approaches to smart contracts included some that were merely “augmented by technology,” says Houman B. Shadab, professor of law at New York Law School. “In a sense, you could view contract signing and management services like DocuSign as an example of [smart contracts].” Other approaches automated the production of traditional contracts using templates.To read this article in full or to leave a comment, please click here(Insider Story)