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ARTICLE · 07 JUNE 2018

Smart, Visual and other work contracts - the new frontier of simplified labour management

Bartier Perry Solicitors
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The contracts must also be clear across cultural and technological divides, with minimal risk of dispute or disagreement.

AustraliaEmployment and HR
Darren Gardner
Darren Gardner
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The new world for contracts

The old world of contracts written in words on paper is giving way to the new commercial online world – driven not by trust, respect and duties, but by continual improvements in transactional time and cost efficiency, with little or no need for agreement in a human language.

Distributed ledger and blockchain technology, artificial intelligence and machine learning enable commercial transactions to take place with ever increasing speed, higher volume and at lower cost. This information and productivity revolution involves limiting human intervention or removing it altogether.

Transactions are not expressed in human language, but in computer code executed electronically in digital binary switching, on or off, in nanoseconds (at least for now before biological data storage and the next quantum computing leap).

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