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Icertis Internet of Contracts whitepaper

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As a result, contracts are getting more connected – driving a fundamental shift that is changing the world of business. It is not uncommon to see a master or frame agreement drive all relationships with a supplier worldwide, or terms from a customer agreement to see their way into a supplier contract. As regulations change and macroeconomic and political forces affect commerce, all contracts are impacted. One only needs to look at the impact the General Data Protection Regulation (GDPR) or the UK exiting the European Union has had on contracts to prove this point out. Now, this interconnection between contracts and the outside world is poised to go "live," where contracts can be connected, interact with each other, and exchange data – creating what we call "the Internet of Contracts." The Internet of Contracts (IoC) promises to revolutionize business by providing new ways to create, manage and execute contracts between different parties, offering a vision for international commerce that enables free, fair and frictionless trade and mutual satisfaction and growth in lieu of the often antagonistic activity that stunts development. This whitepaper presents the Icertis vision of a global network of fully digital, internet- enabled contracts in the cloud that represent the foundation of future commerce. It describes contract management as it exists today, explores why AI and blockchain hold the key to greater decentralization with improvements in transparency and security, and what the future holds for contracts. Contact us: icertis.com/contact 4

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