Smart contracts are Blockchain based computer protocols which are virtual contracts coded with predefined conditions. This also allows them to automate different procedures and dealings in a company.
Benefits of Smart Contract
Smart contracts can operate as joint accounts so funds can be used only when all the parties agree unanimously. They can -
- Manage agreements between network users.
- Can be used by other contracts for utility like a software library.
- Can store application information like domain registration, etc.
Where are Smart contracts used?
Energy & Utilities
Retail & E-Comm
Why Vsynergize Global?
- We focus on delivering extremely secure, private and cost effective solutions in smart contract implementations
- We have the expertise to custom create your solution and help you stay ahead.
- We work on the Remix IDE & Solidity to create programs that faithfully translate your business contract rules to software code.
- We have an experienced team of Ethereum developers that can tackle any level of complexity in smart contract development projects.
How Smart Contracts Work
A smart contract is used to transfer value from one person to another.
User/developer creates a contract
The "smart contract" contains the agreement between 2 users
Once created, it cannot be changed
The contract gets automatically executed when a pre condition is met (a fixed date or a payment made)
Advantages of VSynergize
Global Smart Contract
Lesser Costs & Risks
The code based smart contracts automates all tasks and eliminates human intervention to the minimum bringing down the cost of processing and other conventional contract costs. Moreover, the decentralized process also cuts out the risk of any fraudulent activity.
More Accuracy & Immutable System
Smart contracts are accurate without human errors and allow for swift business operations. Once made, smart contract codes do not change ever, which provides users with a trusted ambience.
Scope for New Models
Any data driven business model can use smart contracts as they can effectively and efficiently track anything from date and time, to weight, temperature, payments and other quantitative variables and take action with predetermined conditions.
Reliable Autonomous Agents
The blockchain based smart contracts are autonomous systems that allow you to automate your business process and react effectively and on time.
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