An agreement ledger in blockchain terms is the use of blockchain technology to capture and record an agreement (consensus) between parties.
Most of the time, blockchains are used to capture financial data. The immutable and highly corruption-resistant nature of blockchain technology, however, makes it a good candidate to capture agreement data.
For example, say a product needs to be shipped from point A through B, C, D, to its final destination E. An agreement ledger can be put in place where the sending party records dispatching the product and the receiving party acknowledges receiving it. At that point, a consensus is achieved and recorded on the agreement blockchain.
This agreement ledger can be used to establish who is liable for insurance coverage in case something happens to the product in transit.
We can even go fruther and automatically enforce and execute the insurance claim using a smart contract [↗], based on other variables such as the expected delivery time and whether a party missed it. Going even further, we can determine how reliable a delivery business is based on how often claims occur. This leads to a trustless trust setup [→], where one doesn’t have to rely on public reviews to determine how good a company is.
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