What Are the Top 10 Benefits of the Blockchain Ledger?
Single source of truth:At any point in time, all parties will refer to the same data thanks to a single shared ledger.
Early or preventative detection of human error:Since all parties need to give consensus, any human or application error will be caught early on in the chain.
Security:Treachery by any of the parties will be immediately identified by comparing the ledger copies of the other parties.
Disintermediation:Elimination of middlemen is one of the biggest benefits of the blockchain. It enables the contracting parties to reduce the overall cost and connect the payments and asset ownership/transfers directly between buyer and seller.
Safety & transparency:The business and the customer (investor) can ensure that their agreements, assets and ownership are not compromised and are properly executed.
Customer centric:Since blockchain provides the opportunity to connect the contract issuer directly with the customer; the issuer is able to provide a better customer experience.
Regulatory compliance:Blockchain improves regulatory compliance through transparent audits.
Legal transparency:Single source of truth ensures that all documents are authentic, with an 100% audit trail of all transaction steps.