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In the real world, written agreements form the framework for operations, but they do not cover all of the action.
In practice, the so-called at the grassroots level, oral agreements (requests, assignments, instructions, commands and promises) are made every day and they are direct continuation of the main contracts but are not part of it because of placing things in written form in the current situation would be too cumbersome or otherwise impractical by traditional methods and therefore not a predominant practice.
However, for the parties and the project, it would be ideal if all the agreements were in one way or another reliably and easily documented as part of the main contracts. Thus oral offer negotiation, work instructions, requests and promises would not get so easily forgotten and delayed. The behavioral pattern of the contractor in relation to the agreed will change when the agreement is recorded and it will result in better compliance with the agreements.
To put it simply: Better agreeing results in better results.
Another reasoning for video contracts is because of technology has become mature enough. Already 20 years ago it was possible to envision the technical future where people negotiate and agree over audio visual connectivity. Breakthrough of video as a media has already happened, young consumers are the most vivid proof of it. HTML5 compatible WebRTC has become a commonly supported standard on most popular browsers. Other related technologies like blockchain, Ethereum smart contracts and digital currencies will be natural part of future contracting solutions.
Video contract itself at simplest is a single video file containing the agreement. It may contain some or all of the needed content to make a complete contract. Excluded parts may be found on wrapper element which may be email message, PDF document, online platform etc. system providing a method to add information. Or video contract can be seen as an additional, adding part of some other contracting mechanism.
While numerous already existing communication solutions keep evolving towards more audiovisual, there will be more totally new platforms born too. Best chances to grow along depend on both the capability to offer a solid independent solution to full fill the end user needs as well as on the readiness to be part of most important parallel platforms. New video channels on internet and telephone standards should be adopted as part of capabilities and vice verse, developing the leading contracting API should be done right so that it truly becomes the underlying piece of technology for others to utilise and relay on.