Autonomy — You are the one who is creating the agreement; there’s no need for you to be dependent on a broker, professional person or different intermediaries to verify. Incidentally, this additionally knocks out the danger of manipulation by a 3rd party, since execution is managed mechanically by the network, instead of by one or a lot of, probably biased, people WHO might error.
Trust — Your documents area unit encrypted on a shared ledger. There’s no manner that somebody will say they lost it.
Backup — Imagine if your bank lost your bank account. On the blockchain, every and each one amongst your friends has your back. Your documents area unit duplicated repeatedly over.
Safety — Cryptography, the secret writing of internet sites, keeps your documents safe. There’s no hacking. In fact, it’d take Associate in nursing abnormally good hacker to crack the code and infiltrate.
Speed — You’d normally need to pay chunks of your time and work to manually method documents. Good contracts use code to alter tasks, thereby shaving hours off a variety of business processes.
Savings — Good contracts prevent cash since they knock out the presence of Associate in a Nursing go-between. You would, as an example, need to pay an official to witness your dealings.
Accuracy — Machine-controlled contracts don’t seem to be solely quicker and cheaper however additionally avoid the errors that come back from manually filling out a lot of forms.
