What are real world examples of smart contracts?

Asked a year ago

I want to get involved in a smart contract. I studied them in business school and think I could make innovative contributions to them. However, I understand that the theory of a smart contract is different compared to the practical application . Can anyone tell me a real world example of a smart contract? Thanks guys!

Courtney Blankenship

Thursday, May 12, 2022

Below are 11 real-world examples of smart contracts:

Digital identity – offers personal identity in cryptocurrency, eliminates counterfeits, and makes the Know-Your-Customer (KYC) process seamless.

Trade finance – streamlines cross-border payments and international trade.

Financial data recording – enhances data capture and accuracy and minimizes reporting and auditing costs.

Financial security – manages liability, automates payments, stock splits, and member dividends.

Financial service – provides errors-free services through automation.

Government – automates activities and enhances transparency and efficiency.

Insurance – automates claims and resolves disputes with proof.

Mortgage system – automates mortgage and speeds up the process.

Supply chain management – automates supply chain with visibility and transparency and minimizes corruption.

Clinical trials – provides cross-institutional visibility, automates information sharing, and enhance privacy.

Trading – facilitates Peer-to-Peer (P2P) trading without the need for intermediaries.

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