In traditional trade, both sides need a third-party to guarantee and prevent the possible risks. Why do both sides prefer to trust a third party instead of the other party? The reason is simple. The cost of trusting the other party is too high and uneconomical. It is not as cost-effective as a third party. If you choose the other party, you need to verify the other party's past trading transaction, business status, industry reputation and other information, so as to reduce the risks in the transaction. But now, through the blockchain electronic seal technology, it provides a trust foundation for transactions.
In the future, every enterprise in China will have a set of block chain seals, including official seal, legal person seal and financial seal. When the blockchain contract enters each enterprise, the false seal will no longer exist, the transaction will be more transparent, the contract will be more credible, the execution will be guaranteed, the rights protection will be more convenient, the justice will be closed-loop, and the social transaction cost will be greatly reduced, which will help the local government to optimize the business environment.
Compared with ordinary electronic seal, blockchain electronic seal has four advantages: more credible, more reliable, more convenient and more intelligent. Taking intelligence as an example, the blockchain contract signed by the blockchain electronic seal integrates the NLP intelligent semantic processing and intelligent document processing capabilities of Dharma Institute. Combined with the judicial big data, it realizes the intelligent review of the contract, and can tell the user whether the terms in the contract are defective through AI. Moreover, combined with the smart contract capability of the blockchain, the contract can be automatically executed.
As the soul of blockchain technology, consensus mechanism ensures the distributed record of information and can not be tampered with. SilkChain uses these characteristics of blockchain technology to resolve the incompatibility of trust between both sides in the trade process. At the same time, the point-to-point transmission of blockchain will greatly improve the trade efficiency. Thus, SilkChain is committed to building a decentralized global digital free trade and consumption community.