FIRMACHAIN - A BLOCKCHAIN BASED E-CONTRACT PLATFORM

krishanbitcoin (27)in #firmachain • 4 years ago

Introduction
Unlocking new limits of electronic contracts with blockchain technology, FirmaChain seeks to replace all written contracts governing social and legal issues (contracts, notarial, etc.) through the use of electronic contract platform based on FirmaChain’s data blockchain.

FirmaChain utilizes the decentralization of the blockchain. We plan to create an electronic contract
management service where we can secure transparency and reliability of the transaction documents in
license agreements for IP rights; fundamentally solve issues of verifying contracting parties and forgery
of contracts; implement a reasonable contract-making procedure between parties using DApp; reduce
the processing cost for international contracts through contract writing using less resources and
simplifying the process; and ultimately create a service that overcomes the limitations of written
contracts.

Decentralization of Data

Millions of personal computers all over the world are constantly operated for considerable time, but
not all of a computer’s resources are utilized to the fullest extent. This is especially the case with
storage capacity and network bandwidth. If the remaining storage capacity and network resources could
be lent to another person at a certain price, the user could save files at costs lower than other similar
file storage services while the provider could generate a profit with the unused resources

A Decentralized Data Storage

FirmaChain’s Decentralized Data Storage is used for storing and retrieving large amounts of data.
Most blockchain platforms, including Ethereum, can store data, but only temporarily. In addition, these
platforms require spending expensive resources such as computing power rather than space for physical
storage to maintain the blockchain. If such blockchain platforms are used for the purpose of storing
data, astronomical costs will inevitably be incurred.

Structure

Service

Application

Core

Application
duite. is available on both Web & Mobile
and covers all the steps required for closing a contract.
Visit duite : https://duite.io

duite. is available on both Web & Mobile and covers all the steps required for closing a contract.

The diagram above depicts how Firma Network is used in the processing of duite.'s data.
Documents are saved twice to ensure airtight verification,
while strong encryption allows for maximum security in document storage.

Features :