Blockchain – Smart Contracts, Next Big Thing in Business Operations

Today when we execute a contract, apart from some must to haves, like terms and conditions, product or service requirements and so on, we need a legal system to authenticate the agreement. This system needs a kind of guarantor that a product or service of defined specifications would be delivered in defined timeframe. Therefore, the process involves an intermediary, which is needed because of trust deficit factor. Lets try to see how Blockchain enabled ‘Smart Contracts’ are going to challenge and transform the way we do contracting today

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