Smart Contracts Development

A highly reliable Open Source Platform when it comes to developing Smart Contracts based on blockchain applications

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What Are Smart Contracts?

Smart contracts are contracts that are designed to execute and enforce themselves. They're linked to Blockchain, allowing ultimate security and decentralization. Smart contracts development lets you replace traditional contracts and can save time and money for your business.

Smart contracts are a particularly good choice when executing an agreement for services that are highly quantifiable. With a rich data set available, a smart contract can determine when a contract has been fulfilled and when some enforcement measures are needed. They're less effective as agreements for services that involved a significant degree of subjectivity.

For example, if you draw up a smart contract for website design, you may run into trouble. Who decides when the design work meets the client's needs? Compare this to, say, a shipping contract. The smart contract can take into consideration weights, arrival times, fees for tolls, temperature and weather information, and a wealth of other relevant data.

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The Advantages of Smart Contracts for Business

The advantages of smart contracts in business are particularly strong when looking at efficiency and financial savings. In some industries, the savings may seem small initially, but they can accrue rapidly.

Automated Monitoring

If your company handles the same transactions on a regular basis, smart contracts can bring a new level of efficiency to your workflow. For example, smart contracts can keep track of lease payments, monitoring and verifying payment or starting the first level of enforcement automatically.

Transparent Recordkeeping

The Blockchain technology associated with smart contracts helps to ensure transparency in all transactions, as well as recordkeeping that can't be tampered with. If you're in financial services, healthcare or any other field where an impenetrable wall must be maintained against fraud, smart contracts can help.

Reducing Middlemen Costs

If your business involves a lot of intermediaries who have to approve milestones and authorize payment, smart contracts could be a very smart choice. The savings at each step when you have auto-execution and automatic enforcement of your contract can add up rapidly.

Use of Cryptocurrencies

As increasing numbers of businesses use cryptocurrencies for payments, smart contracts become a more vital choice. Get rid of your need for merchant services companies and payment processors when you adopt Blockchain technology and smart contracts.

Automatic Fulfillment of Orders

Speed up your workflow and keep customers happy when you automate order fulfillment using smart contracts. This technology is especially useful when you're delivering digital goods, but can be used in your hard goods workflow as well.

Where are Smart Contract used?

accounting
Accounting & Finance
insurance
Insurance
trading
Trading
healthcare
Healthcare
transport
Transport & Logistics
real-estate
Real Estate
warehouse
Warehouse
delivery
Delivery

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Choosing Mindinventory for Smart Contracts Development

Choosing the right smart contracts developer makes an enormous difference in your move to Blockchain technology. At Mindinventory, we can provide the smart contracts development services you need to accept cryptocurrencies as well as utilize smart contracts to protect your transactions and make your workflow ultra efficient.

We'll build the Blockchain based app you need on platforms such as Ethereum to increase your security while decreasing your costs. With years of experience and hundreds of pleased clients around the world, we're ready to customize the solutions you need. Contact us to learn how smart contracts can revolutionize the way you do business.

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