Smart Contracts are programs that work by simple statements written into a code on a blockchain. It allows a computer network to execute the actions when predetermined conditions are met and verified. The activities could include releasing funds, vehicle registration, or ticket issuing.
Dimiour’s Smart contracts in Blockchain allow businesses to automate various business processes, such as payments, supply chain management, and compliance, reducing the need for intermediaries and making these processes more efficient and transparent.
These are stored on a decentralized blockchain network, making them more secure than traditional contracts. And the cryptographic encryption ensures that the data contained in the contract is tamper-proof, making it difficult for unauthorized parties to alter the terms of the agreement.
