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Why Use Smart Contracts?

· Smart Contract

There is not a single person in this world whose life does not involve an agreement of some kind. Be it a rental contract or a college enrollment form - we stumble upon them continuously throughout our lives. The bright side is that technologies are quickly evolving thus opening up more opportunities to ease up some dull activities.

When a computer software created to facilitate, verify and enforce agreements was developed, the hype around it could not be stopped. A smart contract is a concept full of advantages, ranging from its ability to store immutable and encrypted data to the complete elimination of a third party.

Old school paper contracts don’t make sense anymore - every sector on the market including supply chain, insurance, healthcare, and even the government can make use of digital agreements. Verifying the authenticity of drugs, processing claims, online voting and even government spending - the applications of smart contracts are endless.

The growing acceptance of blockchain technology has resulted in the emergence of various companies offering ethereum smart contract development services. The leading provider of innovative solutions to its clients across the globe is Blockchain App Factory. A full stack of highly skilled developers is aimed at meeting your specific needs and is dedicated to transforming the way people look at blockchain and smart contracts.

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