By leveraging the decentralised network, parties benefit especially from immutable data traces, efficient management of transactions and audits stemming from multi-party relationships and complex partnerships. Long-term / life cycle contracts and partnerships, joint funding, and similar business processes between parties can be transparently h acked and managed. Several concepts and technical prototypes have already been developed. For example, a concept for a blockchain-enabled reinsurance platform has been proposed, which reduces errors, costs and duration in the contract management process for disaster events (Deloitte, 2017b). Modem database technology’s interoperability with blockchains is generally given and performed by using standardised interfaces. Oracles, as described in section 1.2, represent data sources outside the blockchain layer that are cryptographically connected to the network.