Smart Contracts are becoming an important part of modern corporations and institutions. But often times most small and medium businesses prefer to stay aside from Smart Contracts, due to associated legal risks (smart contracts often are not recognized by courts because they aren’t always legally binding) and lack of technical expertise. Jincor aims to solve these problems by offering a platform for businesses that want to create legally binding Smart Contracts in a cost-efficient manner.
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Smart Contracts: Blockchain’s Next Killer App?
Blockchain technology has the ability to solve many complex problems in very efficient and smart ways. Finance, KYC/AML, and Healthcare are only just a few areas that can greatly benefit from Blockchain technology.
Huge international corporations and small businesses have now discovered a new exciting component of blockchain technology – smart contracts.
Smart contracts are essentially very similar to traditional contracts, but with the huge difference that they are enforced by cryptographic code.
How can Businesses Benefit from Smart Contracts?
Smart contracts were first proposed by famous cryptographer Nick Szabo in 1996. The idea behind a smart contract is that it can easily allow multiple parties to securely …
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