Although many people do not want to see it, many companies have already realized that the blockchain is here to stay and proof o
05 Dec 2022, 15:26
Although many people do not want to see it, many companies have already realized that the blockchain is here to stay and proof of this are the Smart Contracts.
To understand what a ''Smart Contract'' is, let's first remember what a contract is.
đ A contract is an agreement between several parties that defines the rules and conditions to be fulfilled in it; as well as the consequences of non compliance.
These traditional contracts have some problems as they often require specialized third parties.
âď¸ The revolution comes with Smart Contracts; they do not depend on third parties, they are accessible to everyone, quickly executable, cheap and automatic.
Also, they have the inherent characteristics of blockchain technology, such as immutability, security and transparency.
And for companies? đ¤
Implementing smart contracts in some processes can be a key competitive advantage for any company or start-up.
âĄď¸ Learn more about the value of Smart Contracts with Bit2Me Consulting âŹ
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