Manual contract processes may result in multiple copies lying around, making it hard to track. With RED, every aspect of the contract is conducted on the decentralised blockchain technology and is immutable, which means it cannot be erased.
Users can easily log in and check that one same record. Without multiple copies, disputes are minimized. Any amendment is time-stamped and date-stamped, and displayed for transacting parties to see.
It’s impossible to hack RED with the blockchain technology in place. Each record is secure and permanent and must be approved or verified before being placed in the chain.
Cut down on legal fees using RED. You may engage lawyers in the initial process, thereafter, simply enter the system and self-execute the smart contracts with our system’s intuitive process.
Save on logistics costs like physical storage of documents, administrative costs and other overhead charges.
Shorten your approval process drastically. With full access to RED, all parties are instantly notified when any action is needed, shaving off unnecessary waiting time for physical copies to be passed around.
Built by our team of expert developers, every feature of RED is carefully designed to ensure the transaction records are transparent. Each record can only be updated when all parties agree. Moreover, every participant with permissioned access can view the record and verify its authenticity.
This also means that when it comes to tracking changes and updates, users can easily refer to the historical records.
Using blockchain technology, users no longer have to rely on the traditional systems of using PDFs, which reduces errors and increases productivity. RED changes legacy issues of systems that don’t talk to each other.