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Smart Contracts: Streamlining Trust and Transparency in Business

Smart contracts are revolutionizing the way businesses operate by ensuring trust, transparency, and automation. This PPT explores what they are, how they work, their key benefits, industry applications, and why they are shaping the future of business in a decentralized world.

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Smart Contracts: Streamlining Trust and Transparency in Business

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  1. Smart Contracts: Streamlining Trust and Transparency in Business

  2. What Are Smart Contracts? • Self-executing agreements with terms written in code • Operate on blockchain for security and transparency • Example: Buying digital art with cryptocurrency

  3. How Smart Contracts Work • Parties involved recorded on blockchain • Conditions and rules coded (e.g., Solidity on Ethereum) • Automatic execution when conditions met

  4. Key Features • Transparency • Automation • Security • Cost-effective • Speed and Precision

  5. Benefits for Businesses • Increased trust and transparency • Reduced costs • Faster transactions • Enhanced security • Global accessibility

  6. Real-World Applications • Finance & Banking • Supply Chain Management • Real Estate • Healthcare • Intellectual Property • Government • Gaming & NFTs

  7. Challenges • Legal recognition issues • Coding errors and vulnerabilities • Scalability concerns • Legacy system integration

  8. Future of Smart Contracts • AI integration • Cross-chain compatibility • Legal standardization • Wider enterprise adoption

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