What Are the Use Cases of Smart Contracts in Business?
Smart contracts have a wide range of applications across various industries:
Supply Chain Management: They can track the movement of goods, ensuring that all parties are aware of the status and location of shipments in real-time. Financial Services: Smart contracts can automate the settlement of trades, ensure compliance, and manage loans and insurance claims. Real Estate: They can streamline the process of buying and selling property, including the transfer of title and payment. Healthcare: Smart contracts can manage patient records, ensuring that data is secure and accessible only to authorized parties. Legal Industry: They can automate the execution of various legal agreements, reducing the need for extensive paperwork and manual processing.