Can Smart contracts Exist without the Blockchain? - PowerPoint PPT Presentation
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Can Smart contracts Exist without the Blockchain?
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In the times to come, smart contracts are going to be popular, and there will be a need for smart contract experts. To become an expert in this field, you need to enroll for a smart contracts online course. – PowerPoint PPT presentation
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Title: Can Smart contracts Exist without the Blockchain?
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Can Smart Contracts Exist Without The
Blockchain?
- With Blockchain revolutionizing every industry
and it unfolding new modes of influencing
business operations positively. In the times to
come, we are going to see some significant
developments in this field, but one thing that
needs a mention here is a smart contract. These
digitized contracts are pre-programmed and are
executed once the conditions are met. These are
going to be the future, and if you are planning
to become a smart contract expert, then you must
choose smart contract certifications.
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The Functioning of a Contract
- We have already mentioned about smart contracts,
but how do smart contract works? Its important
for anyone who wishes to become a smart contract
expert needs to have a complete understanding of
these contracts.
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- To explain it in simple words these are digital
contracts that are facilitated online they
verify and enforce the negotiation of the
contract. One of the key factors that you must
know about these contracts is that they are
executed digitally on a Blockchain platform and
are not governed by the third party.
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- These automated contracts have pre-defined rules
which facilitate the exchange of goods and
services. This is to enhance transparency in the
system and reduce the fees and assuaging the
probability of conflict over non-performance.
There is no room for interpretation of all the
terms of the contracts. While drafting smart
contracts, smart contract experts are written
precisely, ensuring that conditions are apt and
clear.
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Bride Blockchain With Modern Contracts
- These contracts are meticulously designed by
smart contract experts and are crafted to execute
once the conditions of the contracts are met
without the intervention of third parties. In
case of breach of contract, the party is not
damaged by it.
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- The funds in case of smart contracts are kept
with escrow, and there is no need for a third
party or any legal framework like a broker. The
agreement protects each of the contributing
parties. If one of the parties fails to meet all
the terms of the contract, the other parties get
to kee the funds.
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- Since there is no intervention of the third
party, you dont have to spend an extra amount in
the form of fees. All this is because smart
contracts operate on a Blockchain platform. Apart
from being fast, the Blockchain platform provides
transparency and security of information. - Many online platforms are working in this field,
and one such example is Jincor. It provides a
simplified Blockchain platform that handles trade
agreements and employment contracts. -
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Can Smart Contract work Blockchain
- This brings us to the next important question,
can smart contracts work without Blockchain.
Well, smart contracts are digital contracts which
are formed to aid faster transactions,
cost-effective solution and security of
information. If we expect these digitized
contracts to work without Blockchain, then it
will not have additional features like no third
party intervention, the security of data, faster
transaction, etc.
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- It may be possible to run smart contracts on
a digital platform, but then you will not get the
same benefits that Blockchain provides you.
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How Can You Become Smart Contract Experts?
- In the times to come, smart contracts are going
to be popular, and there will be a need for smart
contract experts. To become an expert in this
field, you need to enroll for a smart contracts
online course. Blockchain Council is one of the
leading platforms providing smart contract
certifications. With this smart contract online
course, you will get to know how to form a smart
contract and how to program them. It is a
comprehensive smart contract certification that
will cover all aspects of smart contracts and
will help you become a smart contract expert.
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Blockchain Council Certifications
- You can check out our certifications, and kick
start your career in the Blockchain space today. - Certified Blockchain Expert
- Certified Blockchain Developer
- Certified Smart Contract Developer
- Certified Solidity Developer
- Certified Ethereum Developer
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