ContractChain
The client
Contract Chain is an application by HODL which allows organisations to create, manage and sign digital contracts and store the history of those transactions on the blockchain. By making use of blockchain technology, Contract Chain is able to check the authenticity of documents and guarantees an authentic and safe way of handling data of its users.
The challenge
Currently, organizations must inform and justify to customers how their personal data is processed and stored. These organizations are fully responsible for how personal information is processed and stored online. In order to make sure all data of internal processes are handled securely, companies need to have all information stored in a so-called processor agreement. This can be done on paper, but companies with a lot of processing agreements tend to struggle with keeping track of all agreements while ensuring that every document is up-to-date. This struggle asked for a sustainable solution which both simplifies the process of managing digital contracts, as well as optimizing the protection of all user data.
Our solution
Together with HODL, Lizard Global developed the Contract Chain app, which allows organisations to manage, review, and sign contracts in a digital environment. By using blockchain technology, these contracts once reviewed and signed are traceable, transparent and irreversible, making it one of the most secure contract signing tools in the world.
Our Involvement
Digital Conceptualization
Custom Software Development
Technical Business Consultancy
UI/UX Consultancy & Design
Contract Chain digitizes the process of creating, managing and signing contracts. Blockchain is integrated to ensure the authenticity of digital contracts and its signees.
Contract management
Contract Chain is developed to efficiently manage the creation, managing, signing, and storing of contracts in a user-friendly desktop environment.
Blockchain technology
Blockchain technology was incorporated into the application such that, once reviewed and signed, they are traceable, transparent and irreversible.
Collaborative Rich Text Editor
The integrated document editor is a Rich Text Editor which allows admins to collaboratively create, view, and edit documents.
Down the line
The protection of online data is becoming increasingly important, especially when it comes to classified legal documents. Blockchain technology is a secure way to ensure that documents are not tampered with along the way, and to verify that all signees can be authenticated later on. Especially when handling important or classified documents, this airtight protection is indispensable.
Blockchain
The Contract Chain application and its handling of data run on blockchain technology, which facilitates the safe verification and handling of data transactions. Because blockchain technology is a decentralized system, it exists between all involved parties and takes over the role of a human intermediary or middleman. This doesn’t only save time, money, and effort, it also provides a more secure system than human involvement and greatly reduces the risk of errors.
Conclusion
Our partnership with HODL proved to be a unique opportunity to apply the technical expertise of Lizard Global with which we created Contract Chain. Where HODL gave input from an HR perspective, we applied our knowledge of blockchain technology and smart contracts in order to create a user-friendly desktop environment for the secured handling of contracts within companies.