What are some real-world examples of smart contracts?
An example of an AI chatbot conversation about real-world applications of smart contracts.
What are some real-world examples of smart contracts?
Smart contracts are used in various industries. For instance, in real estate, they automate property transactions.
Can you give me more examples in different sectors?
Sure! In finance, they facilitate automated payments. In supply chain, they track goods and ensure compliance.
How do they ensure security and trust?
They use blockchain technology, which provides transparency and immutability, ensuring that all parties can trust the contract.
What are the challenges of using smart contracts?
Challenges include legal recognition, coding errors, and the need for accurate data inputs.
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