What makes a contract SMART Contract in this technical world where almost all the contracts are presented and shared in soft form along with the provision digital signatures although signing in digital form in conventional IT atmosphere is not always preferred because of the security threat.
So, SMART Contracts have been introduced to remove all such threats because they are not only written in the technical/soft terms but are actually written in the decentralized hub of Block Chain and therefore enjoy the beauty of invincibility and cyber crimes.
Now, the question arises if we want to move one step forward and take our business to the universally accepted BlockChain system, then will it be required from businesses to write up SMART Contracts in a programming language? Well! We have good news and bad news in this respect. The Bad news is the answer ‘YES’, the SMART Contracts are required to be written in the programming languages. But the good news is that the SMART Contracts are no more required to be written by ourselves.
After analyzing the general business inefficiencies in writing their SMART Contracts, Ethereum (the first & foremost supplier of SMART Contracts platform) quickly responded and produced a system which will lead the public to write their contracts in the digital terms. Therefore, the need to write up your own SMART Contracts no more exists and they can be got written by the professional programmers at a very affordable rate.
Now the next question is that if the SMART Contracts are required to be written by professionals at a cost then what is the advantage of the BlockChain Platform.
Actually, the answer to this question can be split into two parts: Firstly, the SMART Contract writing does not always mean that the Contracts are required to be written for every business scenario or will be required to be written from scratch every time. Once getting all of your activities in the form of SMART Contracts you will be only required to assign the contracts to your business partners, and they will join you in this ever exciting journey.
Secondly, by SMART Contracts we do not always mean the agreements which are written in verbal forms. SMART Contracts also cover our business situations i.e. have the ability to cover all of our operations and systems and therefore have the ability to lead our business to decentralized network where business is secured to the peak level and the management costs are minimized but not at the expense of a decrease in quality of operations but at the expense of BlockChain Network.
Before reaching our Conclusion on SMART Contracts being our future business peers, there is interesting information that SMART Contracts are written on Solidity language which has been invented a few years back by Ethereum Platform to cover SMART Contracts.Therefore SMART Contracts are most reliable in the technical atmosphere because they are being written in a language specifically invented for them and therefore all the investment on SMART Contracts will actually lead your business to the SMART World.
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