Core Concepts of Digital Contract Management

Description

This Skill Bit shows that Digital contract management has transformed business operations, offering efficiency, collaboration, risk mitigation, and compliance. Digital contracts, also known as e-contracts, replace traditional paper-based processes with technologically advanced formats. They encompass various agreements, utilizing digital signatures and smart contracts for authentication and automation. Blockchain technology ensures security and transparency, while automated workflows streamline processes. Legal frameworks like ESIGN and eIDAS validate their enforceability, marking a shift towards a digitally-driven contractual landscape.

Duration approx. 4 Min.

Tier: proficiency