Elevator Pitch
Is it possible to have a contract, insurance policy, medical record stored digitally and be impervious to fraud. Can we trust documents like drivers licences, ID, certificates implicitly knowing that they are factual and tamper proof. Enter Blockchain and smart contracts. One way to build trust.
Description
Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman. Saving in some cases enormous amounts of money. Think of transferring property and the lawyers fees involved in order to ratify the contract. Smart contracts and Blockchain can be a way to ratify a contract digitally. Smart contracts aim to provide security that is superior to traditional contract law as well as provide ways to reduce transactional and other administrative costs. In this talk we will look at how Ethereum and smart contract build on top of Blockchain can be a way to to overcome some of the security and validity of many contracts in existence today. Smart contracts could benefit areas such as mortgages, clearing and settlement, KYC & bonds. But there some challenges with regards to secrecy, government adoption. Smart Contracts is by no means perfect, but I do think it is one technology to be aware of and look out for.