This PPT slide, part of the 87-slide Digital Transformation: Blockchain Technology PowerPoint presentation, presents a comparison between traditional physical contracts and smart contracts enabled by blockchain technology. On the left side, it illustrates a physical contract involving 2 parties, Roberto and Dave, emphasizing the need for intermediaries to facilitate transactions. This traditional model is often encumbered by inefficiencies and potential disputes arising from reliance on third parties.
In contrast, the right side of the slide introduces smart contracts, which operate within a blockchain network. This technology allows for direct transactions between individuals or institutions without the need for traditional intermediaries. The diagram highlights the role of smart contracts in streamlining processes, reducing reliance on central authorities, and minimizing the risk of disputes.
The slide also notes that while traditional intermediaries can adjust their roles, their involvement may be limited to specific circumstances, suggesting a shift in how transactions are managed. The central authorities maintain oversight, ensuring the integrity of the blockchain system while having broad access to its functionalities.
This transition from physical to smart contracts signifies a fundamental change in contract management, offering enhanced efficiency, transparency, and security. Organizations considering this shift can expect to reduce transaction costs and improve trust among parties involved. The visual representation effectively communicates the advantages of adopting blockchain technology in contract design, making it a compelling consideration for decision-makers looking to innovate their operational frameworks.
This slide is part of the Digital Transformation: Blockchain Technology PowerPoint presentation.
This presentation is created by former McKinsey, BCG, Deloitte, EY, and Capgemini consultants based on the Blockchain thought leadership global consulting firms.
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