Smart Contracts: channel for trade finality set to redefine finance and lifestyle

about 1 year ago

Smart Contracts: channel for trade finality set to redefine finance and lifestyle

In web development HTML serves as the structural basics for building a Web application while CSS jumps in to style things up as the name literally implies. With a technology such as blockchain technology, smart contracts serve as a layer for styling, advancement and broad development and improvement, basically the sauce needed to pack in some supercharged energy to this shit.

This self-executing contracts triggered by trade agreements signed by both parties involved is practically the future of blockchain and crypto assets given that it takes it to a whole new level, a stage where limitations are not a fault but a choice.

Over the years of being involved, reading, testing and experiencing blockchain create, maintain and make an impact in the financial world, data management systems, brands growth, web businesses and so much more, I have seen so many applications and projects get pushed into the markets and while most of them have not attained the users they need to materialize their full potentials, a number of them have crafted unique technology models for themselves using smart contracts.

Hows?

Laws In Lines Of Code

We are moving into an age where businesses will see a decrease in cost of management provided blockchain and its associated technologies get widely adopted. With smart contracts as the major focus here, we are dealing with algorithms that allow systems to autonomously operate, executing functions and following commands via met requirements as stated in the lines of codes.

As some of us know, smart contracts are called smart not because they can create new things on their own(they can't) but because they can autonomously carry out functions by following predefined rules written as codes. The idea of leveraging smart contracts is to boost work done and reduce cost overall.

A Nasdaq publication was talking about merging Artificial Intelligence(AI) with smart contracts and Oracles to build out systems.

As I've previously noted in the past, AI will benefit and greatly depend on blockchain technology. The thing about this merge is that we are effectively forming a network for basically exchanging or transferring data across the on-chain world(the immutable blockchain network) and the real world(off-chain) and centralized servers.

To what value?

The value is in the data itself that is being moved. With this, we can factor in the merit of being able to form this channel of communication, so in literal sense we're talking about a limitless network of data exchange, aiding diverse business attain trade finality across multiple applications or networks without breaking a sweat or worrying about inefficiency and risk that comes with manually facilitated trades.

Here's where we can cherish the focus of the blockchain ecosystem to build technologies that are interoperable, something that will play a huge role on how blockchain infrastructures reach the masses. Thinking about the level of efficiency, security and privacy that will come with this technology phasing into our new norms, the evolution is quite fascinating to witness it all.