How Smart Contracts can change the world of business

[1902spizirna]

I agree, the technology is there now it just needs the implementation and adoption from the business world. I think it will take years though for businesses to final adopt it, but the ones who are the early adopters will be ahead of the game.

[repetecrypto]

Just needs adopting and legality to be added and we have an amazing new system!

[Cryptogiji]

I really do think they will change so many processes in the world of business, great article!

[honeyduckgoose]

I think its only a matter of time till we see this being adopted on a large scale. I just think people are a little scared about new technologies until they have been proven to be effective.

[ICO Lancer]

Hello all,

I came across this article, and I would like to hear your opinions whether you agree or disagree. Are there any industries that they missed in the article? I think people forget too much about smart contracts and blockchain here and focus too much on the actual token and the price. The reason they have a price is the valuable technology behind it.

https://medium.com/crowdholding-innovation-platform/how-can-smart-contracts-change-the-world-of-business-46f00da93e87

Gambling, all things entertainment, and other such fields will definitely change in the future because of smart contracts.

I think it's definitely an amazing piece of tech and its uses are limitless.

[Sniar]

Well in dream world it might change a lot but in real life only a little number of people are using cryptocurrency in business. Overwhelming majority of businessmen won't use that currency nowadays and in near future.

[marmeladko]

Even if cryptocurrency and Bitcoin will die (I don’t believe in this), blockchain and smart-contracts can change our world. Really, financial and insurance industries, medicine, logistic and all global markets will be improved by new technology.

[atithisha]

Hi guys,

Especially Smart contracts are programmed using Solidity which is a contact-oriented programming language for writing smart contracts. It can then be used to implement the smart contract on various blockchain platforms.

There is a specific catergory of algorithm. which can be decentralization and provides digital security so that a smart contract can be created.

Benefits of Smart contracts :

Smart contracts live on a shared database where all parties have a copy –unlike today’s systems where every company keeps and stores their own records.

With this in mind, here are some key benefits of a smart contract:

1. Instant Verification
2. Authority
3. Transparency
4. Enhanced Privacy Structure

Can you think of any other reasons smart contracts will change the world?

Once you need an  prefect smart contract development company




 

[cryptoadmire]

Think it will take a few years before this is adopted. It's a nice idea, but I don't see businesses moving anytime soon.

[Aminmon]

Now the blockchain and cryptocurrency markets are too fickle.
People just want to profit from this industry, but ignore the underlying technology.

[jimsteel]

I think we are a few years away from mass adoption, but it is going the right direction. People focus too much on the actual crypto and not enough on the blockchain systems that support them.

Therefore when the crypto takes a hit, people forget blockchain.

[chocolaty]

Smart contracts indeed contributes to the evolution of the business world. Not only does it speeds up the process of verification, but it also reduce the cost. Businesses of company will be better once they adopt to the advancement of technology. I know one company in the Philippines that is currently taking considerations of blockchain. I will not mention the company name but it is a company that provides one of the basic needs of human. It might takes years before adaptation but hopefully it will be soon!

[Maleficar]

Smart contracts can turn all the existing business models upside down. They provide people with the whole new level of security.

[Entei]

In my opinion regardless of the platform that the contract can be made the idea itself is something motivating and essential for the realization of a dream or even even changing an archaic scenario of a technology. It really is a question of time to find comments on media in relation to the topic.

[Teraboy]

I agree with this article.

Maybe one area that was not discussed in the article would be rent, imagine if you didn't pay, you couldn't get access to your flat.

This offer of the IOTA project (for example). Now there are some implementations, but they do not use the global blockchain. For the time being P2P only.

I don't see any relationship the smartcontract with IOTA as a DAG platform which worked on the different system and it couldn't included on the blockchain platform. IOTA only aim to become the open payment platform with full scalability to decrease the fees but it gets another problem because the platform was centralized by used the server and not miners just like what have done by blockchain systems.

[bramborakymilenec]

I think that we are moving towards mass Smart Contract adoption, will be in the next 2-3 years.

[roganite]

I think we will see this evolve more and more this year, every day I am hearing some sort of adoption of blockchain.

[Ricsung]

I think that we are moving towards mass Smart Contract adoption, will be in the next 2-3 years.

Not so fast, the large-scale use of blockchain technology, this shows that the global companies are already in the application stage, but currently there is no universal view.

[Fantina]

smart contracts will turn the world especially a number of professions will become basically unnecessary , such as lawyers , notaries, brokers and all other intermediaries . a number of deceptions in markets such as the real estate market will decrease

[freedoom]

Smart contracts will completely change the world of business. The need for mediators will disappear. Fraud in the service sector will disappear. And this is only part of the benefits))