Blockchain Smart Contracts For Frictionless Work Process Between Parties

What is a blockchain smart contracts?

How can a smart contract enable frictionless work processes between parties?

The automatic mechanism:

  • Reduce the need for paperwork positions: With traditional contracts or even with rudimentary digital contracts, manual tasks (collect the documents, input data to the contract template, and decide the implementation of the contract) still ensue. A smart contract, instead, occurs entirely and automatically in a digital environment, cutting down or even eliminating the participant of roles that don’t create much value to enterprises.
  • Automation also allows a contract to perform in a vast number of transactions at the same time.
  • With an automatic mechanism, a smart contract makes daily business operations easier. For instance, notarization vanishes because data is already stored on a distributed database immutably — a unified set of data with multiple verified copies.

The elimination of intermediaries and a trusted third-party:

Traceability:

Stop the misunderstanding of terms:

Reduce cost and enhance business operation:

Conclusion:

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The Permissioned Business Blockchain for Enterprises

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Akachain.io

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The Permissioned Business Blockchain for Enterprises

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