A*Star Smart Contract Project

What is a Smart Contract?

  • Contracts that is converted to computer code
  • Stored & replicated on the system and supervised by the network of computers that run the blockchain
  • Allows exchange of money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman

Benefits of Smart Contract:

1.   Transparency

  • Smart contracts are filled with terms and conditions in absolute detail
  • Eliminates the chance of dispute and issues
  • Resolves anything related to miscommunications

2. Time Efficient

  • Eliminates intermediaries and unnecessary time wasted
  • Time delay due to manual involvement is also eliminated

3.  Precision

  • Conditions that’s left out of the contract might result in an error while execution
  • Lesser errors compared to human execution

4.Safety & Efficiency

  • Smart contracts has automated coding that match the highest safety standards and efficiency

5.  Data Storage

  • transactions are stored on the blockchain in the form of future records

6.  Savings

  • paper-based documents are not involved

7.  Trust

  • Obliterate any probability of manipulation
  • Eliminates manual errors as the contract executes itself

1.   Document Authentication

Human Resource / Recruitment Agency and Corporate Secretariat :

  • Able to verify and authenticate of applicants documents
  • Tracking identity
  • Trace education and past working experiences
  • Prevent applicants from lying on their resume
  • Issue Offer Letter etc
  • Perform bookkeping and recording of transactions like debit credit
  • Payroll : Proof of payment etc

2.   E-Test / Survey 

Human Resource / Recruitment Agency and Corporate Secretariat :

  • Able to get applicant to complete a short questionnaire before the
    interview process, access capability and rate candidate
  • Ensures that applicants have the knowledge that the job requires
  • Shared system which is commonly accessed by all parties including
    hiring company
  • Surveys to be assisting company to retrain and serve as knowledge center for new account / admin executive of the said client

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