In an ever-changing world, technology is becoming a catalyst for innovation in all sectors. One of the fields that is undergoing a revolutionary transformation is the energy sector. The application of so-called “smart contracts” is emerging as a powerful and versatile solution to address challenges and seize opportunities in this sector. The article “Smart contracts …
Nick Szabo, an American computer scientist and cryptographer, is considered the creator of the Smart Contract concept in 1997. Szabo described in his article “Smart Contracts: the future of legal agreements” how contracts could be managed by computers, referring to traditional contracts, which are agreements written on paper that require human intervention for their execution. …
Blockchain, smart contracts and federated learning technologies have revolutionized the way transactions are conducted and data is protected. However, many people may find it difficult to understand these concepts. For this reason, this article will explain one of these technologies in a simple way using an example. Smart Contracts are an integral part of blockchain …
A Smart Contract is a computer program that runs on a blockchain and automates the management of digital agreements. The terms of the contract are encoded in the program and executed without the need for intermediaries. From a legal and juridical view, a smart contract is an automated digital agreement that is executed securely, transparently …
Smart contracts are programs based on decentralized distributed ledger technologies (DLT) that are executed based on specific logic and agreements. Due to their characteristics, they can help reduce document forgery and increase accessibility, which is why there are a large number of applications. Preservation and accessibility of documents Forgery of certificates and documents has been …
A Smart Contract (SC) is a program stored on a Blockchain that executes when predetermined conditions are met. It is a collection of code (its functions) and data (its state) that resides at a specific address on the Blockchain. SCs operate by following simple “if/when…then…” statements that are written into the Blockchain code. A network …
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