Smart contracts benefit business by simplifying and automating transactions, removing transaction costs, and creating certainty for counterparties, and they are inexpensive to run on a blockchain.
Source quote, verbatim
Smart contracts are intended to simplify and automate business, removing transaction costs and creating certainty for counterparties. They make business transactions fully secure and efficient. It is also inexpensive to run smart contracts on a blockchain.
From
Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019), III. Benefits of Smart Contracts, p. 4 https://ssrn.com/abstract=3405401 · source PDF
Cite as
Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019). SSRN: https://ssrn.com/abstract=3405401
contested_bykaal:claim:5554218-022 Automating smart contracts under the code is law paradigm incentivizes unethical behavior by enabling anonymou...
restateskaal:claim:3373393-025 Smart contracts enabled by blockchain technology allow comprehensive, near error free, and zero transaction an...
supportskaal:claim:2922176-020 Blockchain-based smart contracts in digital marketplaces are the technology most likely to extend and lead the...
restated_bykaal:claim:5254152-006 Smart contracts, as self executing contracts with terms written directly into code, remove the need for interm...
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