What are smart contracts?

in #blockchain3 years ago

This is the new technology born from the appearance of a public distributed registry as - a blockade.

That is, smart contracts allow you to exchange assets without resorting to the services of intermediaries.

Why do we need such happiness?

For smart contracts, there is no longer any need for such structures as notaries and other state bodies.

A huge plus is that any transaction can be tracked and monitored.

Smart contracts not only contain information about the obligations of the parties and sanctions for their violation, but they themselves automatically ensure the implementation of all the terms of the contract.

How to use?

Life:For example, you want to sell your house and instead buy a new apartment and car. Here, the headache begins in the form of registration of all documents, the standing of queues for the necessary piece of paper, payments for help to realtors. Also, you pay for checking documents, so that the purchased apartment was not mortgaged in the bank and much, much more. I will not describe this process for a long time, as it is long and tedious, and implementation is even longer.

But if we bought through smart contracts (I think this is our future) it would be all easier.
The huge advantage of a smart contract is that you can choose a suitable apartment and pay for it through your computer with its crypto currency. All the necessary documents in advance will already be loaded into the block, you will only have to check them. You do not have to go anywhere and stand in lines. You can fully view the history of this object. Just as easy you can sell your property.

On a note:
This example was shown on the purchase / sale of real estate. In fact, the blockade has a lot of other possibilities in regulating everything in our life.

Smart contracts, in a short time, will be used in all spheres of our life. You just need to wait a little longer)