From The Workbench When the members of the EMC are identified based on their winning bids, it becomes time for the next step: the contract. The Workbench automatically generates the EMC contract once all parties in the EMC agree with the terms of collaboration, as this is the place where **template-based EMC contracts** are digitally initiated, created, signed, and periodically updated.
EMC contracts are ‘Smart Contracts’ stored in blockchains (Ethereum) to create increased transparency around the contracts. Smart contracts are **self-executing agreements** in which a chain of action is triggered when certain conditions are met. These contracts are automatically **enforced** through the Workbench and cannot be altered.
**During the duration of the contract, the Workbench breaks down the goals and sub-goals via detailed daily activities and deliverables for all members of the EMC.** The tool also tracks the daily performance of the members compared to their respective deliverables. This allows all members to easily and rapidly spot any differences between planned and actual performance. The Workbench makes this process of **real-time performance tracking transparent to all members in their respective ecosystems**.