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Propose the use of a smart contract in a blockchain(cryptocurrency system) technology to the real world....

Propose the use of a smart contract in a blockchain(cryptocurrency system) technology to the real world. Explain how such a complex system can produce such a solution to the real world finance problem and how it contrast with non-blockchain solutions.

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Answer #1

Block chain is a platform of the cryptocurrency technologies and the smart contracts(digital contracts) which are used to make an arrengement between the parties in an eloctronic format .it ahs been introduced in the year of 2017. The post period has just became a cake walk after being simplified the proces of making the contracts electronicly.

One of the best things about the blockchain is that, because it is a decentralized system that exists between all permitted parties, there’s no need to pay intermediaries (Middlemen) and it saves you time and conflict. Blockchains have their problems, but they are rated, undeniably, faster, cheaper, and more secure than traditional systems, which is why banks and governments are turning to them. The best example of the smart contracts in block chain platform is Bitcoin .

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