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IACCM Contract Management Forum

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Annonymous
2020-07-06 13:06:49

Blockchain and Contract Lifecycle Management

Has anyone seen the most practical use-cases implemented using blockchain? There are enough in the supply chain areas and logic suggests deliverable & Obligation Management for complex flow-down contracts/interconnected contracts should see a hearty implementation of blockchain solutions, but still to find a realistic implementation - maybe something exists in the permissioned 9Public/private) space.
 
 •  IACCM  •   2020-07-07 07:01:42
Hi Arannyak
In the field of contracting, use cases mostly relate to smart contracts - ie automated elements related to financial exchange or areas such as service level credits.

Other examples include blockchain as a platform sitting across multiple applications and driving and recording data flows through APIs.

Finally, there is use in supporting supply chain performance, again through integrated data and information flows and consolidated capture
 
 
 •  Annonymous  •   2020-07-07 10:52:06
Tim, I have always debated blockchain solution implementtaion from a point of view of reducing cost of verification (reduces the cost of disputes/issues/governance) and reducing cost of networking (to enable the ease of acceptance of the solution).

I have also debated and argued my understanding of Smart contract separated from blockchain. One need not require blockchain led solution for smart contract and so yes Service level Management, Credit/penalty calculations, payments, even contract negotiations and quite a bit can happen with Smart Contract.

But when it comes to blockchain and hence complete decentralization, the use-cases starts to blur.
 
 
 •  Data Gumbo  •   2020-07-29 13:50:07
Here are some key benefits of blockchain
-Provides immutable record of truth; neutral, third-party data to verify data integrity
-Delivers visibility and transparency into real-time contract and operational performance
-Enables automated payments once contract terms met
-Significantly reduces days sales outstanding (DSO) and frees up working capital
-Streamlines business processes; alleviates administrative burden and renders paper invoices obsolete
-Permits treasury and financial management in real time
-Integrates with leading ERP systems to alleviate transaction friction; provides cryptographic auditability
 
 
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