The sister company of SMEs.News is establishing SmartContracts.Shop that will be embedded in a wide range of Regional and Industry Trade Networks.
The way businesses contract with each other has remained pretty much the same for hundreds of years
Traditionally contracts are negotiated, drafted and agreed in a time consuming and costly manner, before being stored away in paper and usually only revisited only if a dispute arises.
Smart contracts can transform contracts as we know them into a very useful, valuable and dynamic business tool, that can help facilitate supply chains.
Smart contracts are digital expressions of contractual provisions that enable the automation of online activities that arise from, or are in connection with, the contract.
Smart Contracts are stored and maintained on a blockchain, meaning that no party unilaterally can control, or amend, the Smart contract, or the code that it contains. This enables Smart Contracts to be utilized as a trusted record of all contractual events accessible, on demand and in real time, to all relevant parties.
The potential for trade and the economy cannot be overstated. A contract that can connect to external data sources to responsively and efficiently monitor and take action in relation to automated fulfilment of contractual obligations can be of great utility across the entire commercial spectrum.
SmartContracts.shop will operate as a Smart Contracts marketplaces, where Smart Contracts can be accessed by SMEs for a range of Industry requirements