Smart Contracts and Blockchain

Blockchain technology and Smart Contracts can efficiently improve numerous processes in your business and reduce the costs. The blockchain isn’t only the technology behind cryptocurrency, but it’s a very useful tool for other areas of business. This technology is the driving force behind a large range of global industries like finance, healthcare, government, real estate, logistics, and others.

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Smart contracts help you to exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services and fees of a middleman.

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Think of a blockchain as a never-ending list of records called blocks that are linked and secured using cryptography.

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Smart Contracts

Smart contracts help you exchange money, property, shares, or anything of value without the hassle and the middleman.

Smart contracts are similar to vending machines. You simply drop a bitcoin into the vending machine (i.e. ledger), and that required information gets deposited into your account. Similar to traditional contracts, the rules and regulations of smart contracts remain the same

How Smart Contracts Could Change the Way You Do Business?

Automatic execution reduces contracting risks

Decentralized process of Blockchain technology makes Smart Contracts more secure and transparent.

Standardisation – reliably repeatable performance

Smart Contracts will standardize the forms of digital contracts internationally.

Fraud avoidance – contract stored “permanently”

There is no way to deceptively alter Smart Contracts once they are set up.

Less ambiguity – computer programs requires precision

Smart Contracts are validated by computers that don't make human error.

“Smart contracts can be used all across the chain from financial services to healthcare to insurance..”

Jerry Cuomo

VP - Blockchain Technologies, IBM

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