Applying Block-chain based Smart Contract in Payment Management System

Abstract

This Corona virus pandemic has made the economy in Indonesia decline, it is estimated that by the end of the year the economy in Indonesia could return to normal. Many employees are laid off amid this pandemic. This study takes the case of a company that supplies goods that must survive amid this pandemic. Where companies must really maintain their cash flow to survive, especially to run their operations and in the procurement of goods for operational needs. The purpose of this proposed idea is about the effectiveness and efficiency of payment administration, payment records, and payment reminders in an organization. In other words, the ideas raised regarding the application of smart contracts. The proposed block chain solution focuses on the payment administration timeframe, the organization of payment records and payment reminders between suppliers and buyers or trading companies.