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Intelligent Contracts Explained

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5.

Smart contracts can be applied to different fields.

The results of the vote will be placed in the Blockchain and distributed among the nodes of the network. All data is encrypted and anonymous. This method eliminates any possibility of manipulation with the ballot.

The supply chain is usually long and includes many links. Each link must obtain a confirmation from the previous one, delay the end of the contract and send the information further. It takes a lot of time and is unproductive, while with a smart contract every participant can see progress and get the job done on time. Smart contracts ensure transparency in the terms of the contract, protection against fraud. It can also track shipments through the integration of the Internet of Things.

There are other possible applications, especially in the management, banking system, insurance, estate, IoT and others

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