Smart contracts can redesign legal agreements, but businesses beware By Cointelegraph



Smart contracts can redesign legal agreements, but businesses beware

When was the last time you got a late payment? Chased an invoice? Waited for your monthly paycheck only to realize it’s late yet again? You might relate to these headaches as an investor, employee or client. But the tension that affects each of these unique parties is often caused by one unwavering contributor: an underlying traditional contract.

Contracts affect every organization’s workforce, and 26% of employees are involved in managing these agreements at some point, according to the World Commerce and Contracting Association. With such a vast effect on a company’s contributors, these contracts should be up to par with the rest of a business’s advancements. Unfortunately, contracts are still typically left to human maintenance and execution by either involved party, which can lead to some pretty costly oversight and error.

Tudor Vrabie is a co-founder, chief technology officer, and project coordinator of SeedOn. He also co-founded HungryBytes in 2018, following his work as tech lead and PHP developer at Grapefruit. Vrabie is a software engineer, web developer, and tech enthusiast and is applying his expertise to revolutionize the crowdfunding process.