Online terms of services are notoriously ignored by the majority of consumers – but Blockchain technology has the potential to solve this problem.
Information technology expert Dr. Steven A. Wright has presented his technical paper titled “ClickThru Terms of Service: Blockchain smart contracts to improve consumer engagement?” at the International Symposium on Technology. The paper examines the potential of Blockchain smart contracts to improve the degree of awareness and control consumers have when signing digital contracts.
Go to https://www.drstevenawright.com/blockchain-smart-contracts-to-improve-consumer-engagement to find out more!
The new announcement comes amid increasing concerns over consumer protection laws, as current click-through digital contracts are simply not read by the vast majority of consumers. While internet users rely on consumer protection laws to safeguard their privacy and prevent potentially abusive terms, developing a more proactive attitude on the part of the consumer is essential.
In Dr. Wright’s paper you’ll discover that Blockchain smart contracts may be a useful way to increase consumer engagement and ensure that digital contracts are read and understood, rather than simply scrolled through.
Blockchain technology offers multiple possibilities to make terms of services easier to comprehend, thus substantially increasing the degree of consumer awareness and reducing the risk of potentially unconscionable terms.
Dr. Wright explains: “ Blockchain smart contracts appear to provide promising capabilities to enable greater consumer engagement with the terms and conditions of the online services by enabling multiple signatures per transaction, and more sophisticated transaction logic to verify engagement. If service providers and regulators will also engage, by considering such click through licensing processes through the lens of consumer engagement, consumer orient blockchain smart contracts could become more widespread.”
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For more on the International Symposium of Technology, please visit https://attend.ieee.org/istas-2020.
With the latest announcement, Dr. Steven A. Wright continues to explore creative solutions at the intersection of information technology, AI, Blockchain and digital ethics.
Dr. Wright is an engineer, professor, lawyer, entrepreneur and mentor. He specializes in negotiating technology agreements that create consumer-empowering digital ecosystems adapted to the needs of modern consumers and service providers.
You can find out more by visiting the above-mentioned websites.
