Blockchain technology run smart contracts

While blockchain-based smart contracts may be new to most executives, this emerging technology promises several benefits across a range of contracting scenarios. Advantages arising from the contract management blockchain include the following:

• Real-Time Updates: Automated task completion eliminates the need for manual data entry and expedites the process of contract review, negotiation, and implementation.
• Accuracy: Automated transactions are not prone to manual, human-based errors.
• Security: Decentralized processing eliminates risks of manipulation or nonperformance.
• Trust: Fewer intermediaries mean less reliance on third parties that could erode trust.
• Cost: Less human intervention reduces process and handling expenses.

Source: https://blog.lexcheck.com/contract-management-blockchain-use-cases-with-ai-powered-negotiations-lc