simplify car leasing process

The blockchain manages the whole lease process starting with the contract and tracks who owns the car at point of time. The solution helps to manage and track the paper trail by digitizing the entire process to enhance transparency and security of sharing information among trading partners. The way it works, in the face of it, is simple. Blockchain provides each participant end-to-end visibility, based on their permission status. This allows stakeholders to see at what stage their documentation process is at. Through blockchain, no one party can modify, delete or even append any record without the consensus from others on the network. This level of transparency helps to reduce fraud and errors; reduce the processing time; reduce the manual process steps as well as overhead for coordination. Using digital records, digital contracts (called smart contracts) and a blockchain reduce costs. Furthermore all records have an auditable history in the distributed ledger.