Contract law
What are contracts for?
1. Efficiency: Reduction in negotiations and disputes
2. Realistic expectations: Risks and rewards
Smart contracts
A smart contract that articulates and is capable of self - executing, on a legally enforceable basic. the terms of an agreement between two or more parts.
DIsadvantages: It cant be altered negotiate off - chain. Difficult to ocde all aspects.
Advantages:Reduce execution risk, automatic performance, reduce ambiguity
Blockchain
Si bien en Colombia aún no se ha emitido ninguna regulación, el Banco de la Republica y
la Superintendencia Financiera han expresado que el bitcoin no se constituye como una
unidad monetaria ni de cuenta en Colombia y, por lo tanto, no puede considerarse como un
medio de pago de curso legal ni un activo con poder liberatorio.
Las criptomonedas han ganado popularidad como una forma de hacer transacciones entre
personas a nivel global debido a su rapidez y bajo costo. Sin embargo, al eludir al sistema
financiero, este tipo de monedas virtuales se convierten en vehículos potenciales para el
lavado de activos y la financiación del terrorismo (LA/FT) y la evasión fiscal.
Las criptomonedas han ganado popularidad como una forma de hacer transacciones entre
personas a nivel global debido a su rapidez y bajo costo.
Bases de datos desentralizadas
Technology trend
Contracts essentials
Civil vs Commercial relationships
Comercial relationships
EEUU, Canada, UK Law = History, customary rules.
Civil
Europe, Latin America and some countries in Africa.
Law = Codes, Statues, written laws that come from Congresses, Parlaments or legislators.
What is a contract?
<>. Arrangements depend on cultural aspects, and specially on the “legal culture”.
Sustainability
Sustainable contracts
Companies strategies, commitments and arragements must be included in contracts and agreements.
"66% of global consumers are more willing to pay more for business that have greater social and environmental impact."
Sustainability challenge
Adidas and recycled plastis
“WE’RE NOT JUST FOCUSED ON CHANGING HOW WE DO BUSINESS; WE'RE DEDICATED TO CHANGING HOW OUR INDUSTRY DOES BUSINESS”
You are a member of the sustainability commite of BGC Corp.
