Blockchain’s application in a Smart Contract
Smart Contract is a term that describes the ability of self-making articles and self-implementing agreements of computer systems by using Blockchain technology. The entire operation process of the smart contract is completely automatic without interfering with external factors. Self-driving cars, turnkey rentals or insurance fees and so on are just a few examples about how a smart contract can interfere with business activities and human-being’s life in the future. The Smart Contract ensures that implementing a contract is more effective than traditional contracts and minimizes wasteful transaction charges for both parties. The Smart Contract’s articles are equivalent with a legal contract and recorded under a programmed language form that cannot change. A main goal of Smart Contract is to allow both of two parties to mutually work or trade through the Internet without verifying the identity and interfering with an intermediary.
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