Applications of smart contracts

  • Reimagine dispute resolution: Smart contracts codify agreed-upon business rules automate processes such as identifying discrepancies, reconciling documents, settling transactions, and resolving disputes.
    -Build a flexible supply chain: Smart contracts are used to streamline the flow of goods in blockchain chain solutions by automatically triggering next steps when conditions are met, such as shipping, delivery, and acceptable IoT data about conditions during handling. Participants can act earlier to prevent disruptions should an unexpected event occur.
    -Bring trust to trade finance: Smart contracts are an essential component of we.trade, the trade finance network convened by IBM Blockchain that is creating an ecosystem of trust for global trade. Standardized rules and simplified trading options encoded in smart contracts decrease risk and help participants find new opportunities.
    -Reinvent bank letters of guarantee: Using blockchain and smart contracts, a consortium of banks digitized and transformed the bank guarantee process for both financial and performance guarantees. The new platform, Lygon, enables applicants, issuers and beneficiaries to obtain legally binding guarantees in one day.

#EF1 #EF1Finance #coin #crosschain #pos #defi #staking #swap #yeildfarming #dapp

EF1Finance

facebook

Instagram

Twitter

Youtube

Telegram

Naver Blog

Naver Band

--

--

--

EF1 is a Defi Platform that allows users to save, loan, borrow and pay Crypto Assets in a global network.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Building a Blockchain with proof of work

SONM’s New Steps  Towards Highly-scalable “Fog Computing+NFT” Architecture

Status Report — MintDAO

LIBERTYLANCE- THE WAY FORWARD FOR FREELANCING

Stop the ERC20 FUD. Just learn and #BUIDL

Who’s ready to play the Blockchain game?

Primalbase Community: Meet Maurits

Interview with CTO DAO ENVELOP

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
EF1Finance

EF1Finance

EF1 is a Defi Platform that allows users to save, loan, borrow and pay Crypto Assets in a global network.

More from Medium

Phase 2 Project — React

“GSoC” Phase 1 Learning Update:

Project to make Clone of Freshly- An E-commerce of Food

The Era of privacy in blockchain technology.