Blockchain Enabled Smart Governance Framework for Standard Form Contracts in Digital Economy Systems

Abstract

Blockchain has proven to be a strong tool in digital contract management systems for enhancing transparency, security, and governance. This paper introduced a Blockchain Enabled Smart Governance Framework for Standard Form Contracts in digital economy environment. The framework incorporated decentralized blockchain structure, clever contracts, governance validation mechanisms, cryptographic authentication and consensus-based transaction verification to make sure secure and automated execution of the contracts. The proposed system improved the transparency, decreased fraudulent modification, increased compliance validation and provided stakeholders with decentralized governance. Secure digital transactions were assisted by automatic execution of agreements with smart contracts and by the immutability of audit trails. The parameters such as transaction processing time, governance efficiency, trust score, scalability, and security performance were used in experimental evaluation. The validation accuracy is 99.1%, attack detection rate is 99.0%, governance efficiency is 98.1%, and the execution success rate is 99.2%. The results proved that the proposed framework was successful in enhancing the reliability of the contracts, decentralizing the trust management mechanism and secure digital governance in large-scale digital economy application, respectively.