The world of contract law is rapidly changing and the introduction of so-called “Smart Contracts” could change the way that entrepreneurs interact with their stakeholders.
Investopedia defines a “Smart Contract” as a:
“Self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network.”
But are “Smart Contracts”, taking off in South Africa and how exactly does an entrepreneur integrate them into their business processes?
Jessica Hubbard from our content team talks to Nicolene Schoeman-Louw from SchoemanLaw about the rise of this new technology and how it will impact SA entrepreneurs in their engagements with clients and other stakeholders.