Smart Contract Benefits

Automation
Business processes can be optimsed through automation using smart contracts.

Integrity
In traditional database solutions, data reconciliation can be expensive and error prone, while on a blockchain data is near impossible to corrupt.

Attributability
Using smart contracts, every change to data can be traced to the entity who initiated the change.

Security
Risk is essentially distributed across a network of nodes which lowers cost and increases fault tolerance. Any malicious activity is also much more difficult to execute and easier to spot on a blockchain. Security processes can be run or managed by smart contracts.

Reporting
Using smart contracts auditors and regulators can monitor and analyse systems and data changes in real time, and this will result in faster, more accurate, higher quality and lower cost reporting.