Editorial
Welcome to a new edition of This Week in Consulting! Today, we’re diving deep into the world of smart contracts – a topic that has transitioned from mere buzzword to a game-changer in the realm of business agreements. And this shift is significant.
Smart contracts, built on blockchain technology, offer a myriad of benefits over their traditional counterparts. They automate processes, minimize errors, and promise efficiency gains and cost savings – all while paving the way for a more transparent and reliable business environment.
In this edition, we’re delving into the nitty-gritty of smart contracts, exploring their evolution, practical applications, and the technical considerations that come with them. From enhancing pharmaceutical supply chain transparency to optimizing retailer-supplier relationships, the possibilities are endless.
We’re also shining a light on the challenges that come with smart contracts – from regulatory uncertainties to the reliance on oracles for data accuracy. We also take a look at Smart Legal Contracts (SLCs) – a fascinating intersection of law and technology, but still lacking robust governance structures to ensure their effectiveness.
Dive in, gather valuable insights, and don’t forget to share your thoughts with us. After all, we’re here to learn and grow together. Happy reading!
Laurent THOMAS
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we’re delving into the nitty-gritty of smart contracts, exploring their evolution, practical applications, and the technical considerations that come with them.
S&P Global’s article explores smart contracts’ role in blockchain, detailing consensus-building and applications like decentralized securities and supply chains. It notes benefits like efficiency but warns of challenges like regulatory uncertainty and reliance on oracles for data.
This week’s media
Jackson DuMont, director of video production at Cointelegraph, offers insights into smart contracts, detailing their functionality within blockchain technology and their practical applications.
Thought Leadership
This LitsLink article explores smart contracts’ potential, tracing their evolution and explaining their benefits. It discusses real-world applications, technical considerations, and predicts widespread adoption, anticipating their role in transforming finance and government processes.
IBM explores smart contracts on blockchain, executing actions automatically based on preset conditions. Benefits include speed, accuracy, trust, and security. Applications range from pharmaceutical supply chain transparency to improving retailer-supplier relationships and streamlining international trade.
FTI Consulting’s article discusses smart contracts, digital contracts based on blockchain. They automate processes, reduce errors, and offer benefits across industries. Challenges include data protection and regulatory considerations. Despite hurdles, smart contracts promise efficiency gains and cost savings.
The article by PA Consulting explores Smart Legal Contracts (SLCs) as a solution for legal inefficiencies. SLCs, powered by blockchain, offer transparency and security but require robust governance and monitoring to mitigate risks, ensuring contract integrity and data security.
This week’s consulting news selection
Marshall & Stevens, Incorporated, a premier independent valuation and dispute consulting firm, has announced the acquisition of Reliant Business Valuation and Reliant Equipment Appraisals, headquartered outside Princeton, New Jersey.|
Interpath has strengthened its Deals Advisory leadership team with the appointment of Managing Director Stuart Mogg, who joins from EY.|
ServiceNow and Microsoft expand their alliance, integrating Now Assist and Microsoft Copilot AI to streamline productivity tasks across platforms.|
Boston Consulting Group has launched its 6th Edition of the Jeel Tamooh program on May 4th in Riyadh. This year’s Jeel Tamooh cohort will comprise over 150 students selected from top Saudi universities.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.
