We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

What do you think about smart contracts?

What do you think about smart contracts? Did you use them? Are you satisfied?


  • Options
    DramaQueenDramaQueen subscriber Posts: 16 Bronze Level Member
    Smart contracts aim to provide the element of trust, too. Yet, there’s a certain twist to them.
    They’re not stacks of paper filled with legal and hard to understand language. That takes an army of lawyers to figure out what these papers actually say. Smart contracts are the digital version of traditional agreements. They are programs whose sole purpose is to legally bind whoever is participating. Because smart contracts are computer programs, here are a few examples of what you don’t have to do:
    -waste money on hiring lawyers to represent you and fight your case
    -you don’t need to chase your realtor to release your funds when he sells your house
    -chase the other person for money when you hold your side of the bargain
    The good news is, the smart contract technology does it for you. Here is the link https://steelkiwi.com/blog/making-effective-use-of-smart-contracts/ This article can clarify some moments for you
  • Options
    saravanansaravanan subscriber Posts: 389 Silver Level Member
    Smart contracts are digital protocols created for validating conditions of a legal contract between two or more parties. 
Sign In or Register to comment.