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!
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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