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author: riyasteve

website: www.blockchainappfactory.com

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riyasteve's Posts - Page 2

Blockchain smart contract verification

Smart contracts are digital contracts that work according to a certain protocol. Some of the advantages of using smart contracts are:

smart contract auditing company

  • These contracts are extremely beneficial particularly when the involved parties require complete privacy and do not want any third-party interference.
  • They are self-executing and computerized contracts that cannot be manipulated or modified.
  • They enhance the way agreements are formed in businesses.

Writing up of traditional contracts is a long and monotonous procedure. Not only are they more expensive than smart contracts, but they are also impermanent. Traditional contracts need a third-party to authorize the agreement. For individuals who do not desire to reveal the matter of the contract, this can cause them uneasiness. Smart contracts on a blockchain network solve so many of these issues faced when using traditional contracts. A crucial step in the smart contract development is auditing. In order to create it perfectly without errors, smar

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Smart contracts for life insurance: A game-changer

That day is not far when blockchain will rule every aspect of our life. Similarly, smart contracts have been developed for a wide range of utilities. One of these utilities includes life insurance. There are many benefits of smart contracts in insurance. However, the major benefits include reduction of insurer costs, lowering of premiums for policyholders, and improvement of customer experience of insurance products.

Smart contract 4

Apart from these, other benefits are as follows:

  • An instant KYC process for end-users
  • Precise evaluation of risks to get detailed reports for every client
  • Accurate pricing knowledge for clients as insurers know the risks
  • An automated process of claiming and submitting
  • No need for manual reviewing
  • Reliable assessment of claims and calculation of damage costs
  • Quick detection of frauds
  • Automatic payments for situations like accidents

Smart contracts are here to revolutionize the way businesses are transacted. Though this will definitely need strategic resourc

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Smart contracts for smart voting systems

by riyasteve3 months ago

Smart contracts are digitally built contracts that are self-executing in a way that they have a set of rules and conditions and are only valid if these conditions are met. It is a known fact that there are a lot of malpractices that take place when voting is done.

Smart Contract Development

Smart contracts can help solve the issues of fraud and double-voting. By providing an immutable record of the voting process, smart contracts greatly reduce fraud. The following are the advantages of using smart contracts:

  • Immutable
  • Secure system
  • Set conditions are unalterable

Therefore, for the systematic and legal functioning of the voting system, smart contract blockchain can be implemented. Ethereum smart contracts are the most popular with ethereum being a secure blockchain environment. Blockchain App Factory has worked with blockchain and keeps up with its innovations to offer the best services to clients that seek blockchain services. Check out their website for more information.

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How smart contracts can revamp the healthcare industry

We all know how the healthcare sector is infested with a lot of issues like loads of unwanted costs, bureaucracy, and thousands of middlemen. It is no doubt that the healthcare industry is not far from its disruption days. In fact, if e-commerce companies like Amazon and Flipkart start entering the drug prescription market, it will prove to be detrimental for all traditional brick-and-mortar pharmacy shops. Actually, with new technologies like blockchain and smart contracts, the healthcare industry can be revolutionized with better efficiency and transparency in all processes.

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Some of the ways through which  smart contracts can help the healthcare sector are as follows:

  • Patients can be given full control over their data that will be encrypted using cryptographic techniques, for instance, electronic health records.
  • Transparency and integrity in tracking the entire trail of drug supply.
  • Watermarking of data, making it easier to trace back to the sources of data leaks.
  • Better tr
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What you must know about Equity Tokens

by riyasteve4 months ago

Equity tokens are gaining much popularity in the recent days. Today, if any company wants to sell its physical products or services, equity tokens can be the best option for raising capital. From ownership and control characteristics to asset ownership representation, equity tokens are one of a kind. That is why these tokens are issued and regulated heavily in many countries.

ETO Development

Some of  its major advantages include:

  • As they are similar to stocks and shares, equity tokens form the most proven token economy in the world.
  • Since it is possible to issue equity tokens as non-voting shares, one can have full control of the company allowing people to invest safely.
  • As long as your company is making money, all the tokens will retain their value.

In the near future, Equity Token Offerings are going to rule the crypto-space as they are safer than any other ICO created until now. Blockchain App Factory is one of the leading cryptocurrency development companies that can help you with build

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Develop secure applications by opting for smart contract auditing

From providing high security to thorough analyzing of codes, smart contract auditing has become a part and parcel of all leading crypto-businesses. You can actually build your own static code analyzer or even perform a complete automated analysis of all issues found in the applications.

smart contract auditing company

Apart from this, the businesses can also widely analyze smart contracts with the frontend as well as the backend. Besides, analyzing the application’s logic for any backdoors or discrepancies is also vital for ensuring the proficiency of the applications. Moreover, auditing ensures the reliability of the architecture of the system and the smart contract codebase.

If you ever wanted the best-in-market smart contract auditing services and are aiming at specializing in application security for blockchain applications, Blockchain App Factory is the best place for you. We provide top-notch blockchain services and work in cooperation with our team of expert developers to deliver the best.

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Smart Contracts in financial services

by riyasteve5 months ago

Whether you’re renting an apartment, buying a car or opening a bank account, contracts are an essential part of any formal agreement.

The traditional contracts involve a high volume of paperwork and complexity, without mention administrative costs and depend on a middleman to settle everything.

Blockchain finance

And as we move into a more computerized world, Smart Contracts emerged as the natural way of making business agreements more reliable and less complicated. Especially in the Finance Industry.

What is a Smart Contract?

Simply said, this is a digital contract built into a blockchain network. And, since it’s blockchain-based, the Smart Contract absorbs some of the distributed ledger characteristics, such and immutability and transparency.

The great catch of a Smart Contract is its self-enforcing nature. Once all the clauses are settled, the contract executes itself, without the need for human intervention. This specific feature allows the computer-based protocol to automate processes.

Smart

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Smart Contracts and Their Emergence in Various Industries

Words like ‘blockchain’ and ‘cryptocurrency’ have made smart contract quite synonymous with transactions and digital ledgers. Decentralized transactions have their flame to glory because of the awesomeness of smart contracts. Smart contracts are a lot more than what meets the eye when looking at it through the goggles of cryptocurrency and blockchain. We will explore to find out the regions and the domains where smart contracts find their relevance these days!

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What are Smart Contracts?

Before we delve deeper into the different uses in manifestations of smart contracts in different industries, we are called to understand what exactly smart contract is. Smart contracts help eliminate the need for a legal system or an authority for facilitating a transaction between two anonymous parties by bringing in all the conditions, regulations and the requirements in a single digital element. Smart contracts are governed by blockchains and they ensure that a transaction is affected only when al

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How ICO Works?

by riyasteve5 months ago

In the last two years, ICOs were the talk of the town. The crowdfunding blockchain-based way of raising funds for a project emerged as an alternative for companies and startups to make public offerings.

The method has been very helpful to incentivize innovation and offers new blockchain based solutions that can change our day-to-day lives.

As we mentioned, ICOs are just like a crowdfunding. They raise funds by getting money from investors that, in return, get tokens that will become valuable in a mid or long-term.

ICO-Development-Company

But how an ICO works? Well, these are four pivotal steps to an ICO launching:

Pre-Announcement: Build a buzz and a community before launching the ICO is very important to make the target audience aware of the project. This is an initial part of the marketing strategy, putting the word out there about your offering while the white paper and other more technical content are being produced.

Offering: The final version of the white paper is ready, all the terms of the ICO

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Smart Contract features

by riyasteve5 months ago

Have you heard about Smart Contracts?

The computer-based protocol is the new big thing in the blockchain world and it is very promising. Smart contracts have the power to simplify every kind of deal between parties, from rent to bank transactions.

In simple words, Smart Contract is a digital contract built on a blockchain network that has the ability to execute itself without the need for human intervention. Once all the clauses are settled, the contract does all the work.

It became popular not only because of its power of changing the way we do business but also because of Ethereum. The blockchain platform made easy for everyone to build an Smart Contract.

Smart Contract Development

But what exactly are the benefits of developing one? These are some Smart Contract features and capabilities:

  • Self-enforcing - as mentioned, the Smart Contract can execute itself once the rules are met in all the stages of the contract.
  • Tamper-proof - since it is built on the blockchain network, the digital contract is a
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