With the development of social informatization step speeding up, combined with the new outbreak, in the first half of the digital transformation is accelerated, lead to enterprise and government digital service is more and more popular, the traditional paper contract has gradually couldn’t keep up with social development, the digital at the same time, the electronic contract slowly spread out between the enterprise and government, under the support of national policy, accelerate to permeate across industries.

Paper contracts have various problems. The paper contract is inefficient, the contract signing cost is high, the paper contract management is difficult, the potential signing risk is big, these problems bring great inconvenience to the contract signing. The electronic contract of blockchain is signed electronically throughout the whole process to improve the signing efficiency. The data of the whole process of electronic signature is stored and verified, and the evidence chain is complete and reliable. Blockchain electronic contract solution:

1. Cost reduction: paperless signing helps simplify the contract management process and eliminates the cost of printing, transportation, storage and other costs of paper contracts. Intelligent contract management realizes intelligent review, filing, downloading and other operations of contracts, effectively reducing the cost of contract operation and management.

2. Improve efficiency: Compared with paper contracts, which are signed offline or signed by mail based on trust between both parties, electronic contract drafting, sending, approval and sealing and other electronic operations can promote efficient internal cooperation and improve the efficiency of contract transfer.

3. Improved management: The operation of contract initiation, approval, sealing and review can be implemented on computer terminal, mobile terminal, iPad and other multi-terminal devices to improve intelligent management of contract life cycle.

4, encryption storage: use block chain technology will contract documents on the chain after through the hash algorithm exists, once the information chain synchronous broadcasting on each node, could not be tampered with or forgery, use technical means to improve real credibility of data, the traditional paper contract is signed “unsafe, easy to tamper with, destroyed lost” pain points.

5. Risk reduction: electronic signature, hash check, trusted timestamp, blockchain storage and other technologies ensure the security of contract information, which can not be tampered with or repudiated, contract access is controllable, and operation records can be traced throughout, effectively reducing the hidden danger of enterprise operation in the contract link.