
06/12/2024
Smart contracts offer a safe and efficient way to enter into agreements. Here are 3 use cases in the industry. โฌ๏ธ
1) ๐๐๐๐ผ๐บ๐ฎ๐๐ฒ๐ฑ ๐ฝ๐ฎ๐๐บ๐ฒ๐ป๐๐ ๐ฎ๐ป๐ฑ ๐๐ฒ๐๐๐น๐ฒ๐บ๐ฒ๐ป๐๐: can automate the process of executing and settling financial transactions, reducing the need for intermediaries and speeding up the settlement process.
2) ๐ง๐ฟ๐ฎ๐ฑ๐ฒ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ: Smart contracts can help automate the trade finance process, from issuing letters of credit to settling payments, reducing the risk of fraud and improving the efficiency of the process.
3) ๐๐ผ๐ฎ๐ป ๐ผ๐ฟ๐ถ๐ด๐ถ๐ป๐ฎ๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐๐ฒ๐ฟ๐๐ถ๐ฐ๐ถ๐ป๐ด: Smart contracts can be used to automate the loan origination process, from underwriting to servicing, reducing the need for manual intervention and lowering costs.
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