This report from Deloitte University Press talks about how the blockchain technology can be used to create smart contracts.
With paper contracts taking weeks to complete and digital documents are too easy to forge, blockchain technology could be the solution to go to. Although this technology is at a very early stage, it is something that companies should stay up-to-date with to stay ahead of the competition.
Smart contracts represent a next step in the progression of blockchains from a financial transaction protocol to an all-purpose utility and saves the organization both time and money.
Blockchain technology is here, and it is growing. For example five global banks are building proof-of-concept systems with a trade finance and supply chain platform that uses smart contracts.
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