The power of smart contracts , by Cho Rimsky(Crypto Guru)

What is a Smart contract ?

It is a set of rules or conditions coded and stored on the blockchain to easy exchange of assets , money , properties and others in a unique way there by taking away the role of a middle man.

How does it work ?

1- A party codes the Smart contract ,

2- Both parties finalizes the smart contract ,

3- The contract goes live and it’s stored on the blockchain,

4- The contract automatically execute when the rules or conditions are met .

What are the benefits?

  • Secured
  • - Autonomous
  • - Interruption free
  • - Trustful
  • - Cost effective
  • - Fast performance

Where can it be used (Use Cases) ?

  • Government votings;
  • It can be used for votings to avoid duplication of votes,
  • Record storing ;
  • It can be used as a way to store record to avoid data immutability,
  • Supply chain management :
  • It’s can be used here to securely track real-time information on the supply chain system.
  • Real estate market:
  • It can used to locate , track and identify in real properties in the real estate market,
  • Mortgage systems :

These real-time contracts validate and record transactions without the use of pricey lawyers and banks,

  • Insurance claims :
  • It can be used to avoid fraud during insurance claims,

Cho Rimsky the Crypto Guru

For consultation on blockchain & Cryptocurrencies ,

Certified blockchain expert with 9 years experience

reach out on WhatsApp 670047333 or join my crypto community

https://chat.whatsapp.com/HYcGG1tNaD0CjvSzghZ5e0

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Cho Rimsky

Cho Rimsky

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