Commercial financing In the year 2010, the first live test of trade financing in Israel has already been carried out. A letter of credit was issued for a delivery and its payment. Normally such contracts are very time-consuming February 2019 Calendar Marathi and cost-intensive, but not by the technology. So it was possible to make a transaction within 4 hours that would
February 2019 Calendar Marathi
otherwise take weeks. Specifically, this slow processing of the old trade financing technologies makes the 10 trillion market very attractive for this technology. In addition to slow execution, reduced liquidity and high bureaucratic costs are a major factor that will drive technology forward in this area. Money laundering protectionClocking also makes a good tool to prevent
money laundering. The completed contracts are completely transparent and the technology allows you to make the most accurate records of which transactions were made to which persons. Through the possible identification and verification of their own customers, it is thus possible to actively prevent money laundering.Audit and Regulatory ComplianceBy the secure
and, above all, unmanipulatable nature of , it is a useful tool to handle accounting. Since there is no possibility for errors, the integrity of the data and the traceability is given. Also special is the immutability of the technology. Once a transaction has been made, it can not be changed, not even by the people who created those entries. Disadvantage of this use is of course that jobs
like auditors can become superfluous. Insurance and Smart Contracts are a big application example for insurers. Contracts and the settlement of claims can be regulated transparently. All contracts and all claims for damages would be managed by the network and filter out wrong claims for damages.
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For example, it would no longer be possible for a client to claim multiple damages in the same case. Business ApplicationsReal estateThe average person sells a property up to 12 times in their lifetime. However, these large and expensive transactions can entail many risks and require very complex contracts to minimize these risks. The technology would make it possible to stop
fraudsters and also simplify sales transactions. Through encryption and verification, all contracts, smart contracts, would be more transparent and would only be executed if the property and purchase price are available. Artists, Media & Advertising Especially for musicians, writers and other artists, could be very helpful. Pirated copies and the speed of Internet distribution
make it harder and harder to earn money there. With the help of technology, the content created could be distributed and paid for as soon as it is used. The advertising industry could thus easily offer advertisements and handle them via the block chain. Supply Chain Management can play a major role in the future, especially for the supply chain. Simple contracts and
continuous tracking of goods are thus greatly simplified. Thus, goods in containers can be easily transferred to different parties, split up or redistributed. There are already February 2019 Calendar Marathi companies that use and develop this technology to simplify the supply chain and save large administrative costs on international shipments.