Insurance

Blockchain and Smart Contracts: Real-World Scenarios Blockchain and smart contracts are tools that help people and companies work together with less risk. A blockchain is a shared ledger that records who owns what. It is designed to be difficult to change. A smart contract is a small program that runs on the network and enforces rules when certain data arrives. Together, they enable faster, clearer processes. Supply chain and provenance In many industries, tracing a product from origin to customer matters. A smart contract can log each step—farm, factory, ship, warehouse—on the blockchain. When a shipment reaches a milestone, the contract can trigger actions. For example, payment to the supplier may release only after a sensor confirms the goods arrived in good condition. This reduces disputes and paperwork, while increasing trust between buyers and sellers. ...

Blockchain Beyond Cryptocurrency: Smart Contracts and Use Cases Smart contracts are small programs that live on a blockchain. They run when pre-set conditions are true, and they execute automatically. This makes agreements faster, cheaper, and harder to tamper with. What makes them different? They don’t rely on a trusted middleman. The terms and the outcomes are coded, and the blockchain records every action for transparency and security. This setup gives people confidence to do business across borders with less paperwork. ...