Contract Cloud Inc. Project (10/23/15 - 12/02/15)
Last week, I met the Contract Cloud Inc. CEO Paul Vacqiuer when he came to introduce his business and discuss with the Entrepreneurship class. He introduces that Contract Cloud is “a patent pending video recording service used in banking, lending, securities sales, human resources, medicine, and many more applications.” (contractcloudinc.com). After practicing law for about six years, Mr. Vacqiuer started this business in order to eliminate unnecessary and trivial disputes between big enterprises and customers. He explained how so many people in America sue against each other with disagreements and eventually lose both time and money. He created Contract Cloud to ensure a better and safer communication for both parties within contracts.
Three steps for using Contract Cloud include,
Receives a script with specific disclosures about the issue
Reads the disclosures on contract cloud’s video technology
All videos are securely stored for future use to prevent disputes
In this way, Mr. Vacqiuer says it can benefit both corporation and customer to understand relationship better and prevent possible confrontations in the future. Since it can be used on any smart devices, Contract cloud can be easily managed in many different corporations to keep better accountability with customers.
To me, Contract Cloud seems easy to use and implement. However, even in this IT developed society, I believe this unexpected, novel type of contract can possibly be uncomfortable to certain amount of people. If the problem of people’s concerns for security is solved, this company has great potential in our world where technology is rapidly expanding. I believe younger generations can be more open-minded to this type of approach, but I am still unsure of what older generations will think about this business.
I am so excited to start this business project with Noah Kim, Harrison Zilli, and David Zou, and I believe this project will become more professional with unique, distinctive ideas to solve problems.
What steps are consumers comfortable with in helping businesses prevent identity theft / contract fraud?