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.
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.
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.