The world’s leading Japanese telecom company Nippon telegraph and telephone (NTT), company wants the blockchain technique to be used for such a contract deal, the company has filed a patent.
NTT”s patent application mentioned that” the during the contract on blockchain will have to face a problem is that every signature of the sender is only contains electronic” Because “the proof of contract agreement has not been left in the transaction by the receiver.”
Patent suggests that “This is an easy, easy way to solve this problem, for instance, Electronic signature of all parties should be included in the transaction.
The patent proposal of NTT has already been exposed by major corporations this week. MasterCard and Bank of America have also released documentation for block-based inventions.
The World’s telecoms industry is ready to take significant advantage from Blockchain in the next five years. This month report highlights how the technology could contribute almost $1 billion in value to the sector by 2023, from just $46 million today.