Smart contract use cases

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Assalamualaikum steemians

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How are you?Hope so everyone would be safe and sound just like me as I am also safe Alhamdulillah...

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Today's topic to share is smart contract use cases.I would let you guys know about some special use cases along with brief conclusion.

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Smart contracts are self executing with terms of the agreement that are written in direct way in lines of code. They basically permit for automation of multiple processes which may give surety of rules and regulations following without any requirement of intermediate entities.Now these are some smart contract use cases I am explaining below;

Supply chain management

Smart contracts may be used for creation of most clear and tamper proof recordings of transactions which may enable real-time tracks and verification of products.

Insurance claims

Smart contracts may be useful for automating of claims process for giving surety of payouts making in a prompt and accurate way.

Digital identity verification

Smart contracts may be used for securing personalized information and enabling of individuals for taking over the control that have an access to their personal data.

Voting systems

Smart contracts may be used for ensuring safety and clearity of elections which make it impossible for manipulation of votes.

Cross border payments

Smart contracts may be useful for facilitation of most fastest and securest international transactions that eradicate requirements for intermediate entities.

Intellectual property protection

Smart contracts may be used for management of royalties and licensing agreements in a automatic way.

Real estates

Smart contracts may be used for streamlining property transactions used for minimizing any requirement for intermediaries and used for enhancement of its efficiency.

Healthcare

Smart contracts can securely safe medical recordings and then enabling transfer of information among healthcare providers.

Predictive maintenance

Smart contracts may be used for automation of maintenance schedules and for ensuring of serviced equipment at particular time.

Crowdfunding

Smart contracts may be used for ensuring of funds releasing only if some particular conditions are fulfilled.

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Digital rights management

Smart contracts may be used for protecting digital content and for ensuring that creators are compensated in a fair way.

Autonomous vehicles

Smart contracts may be used for enabling securest and efficient interaction among vehicles and infrastructure.

Food safety

Smart contracts could be useful for tracking origin and trade of food products that may give surety of safety and quality of food.

Energy trading

Smart contracts may be used for enabling peer-to-peer trading of energy that may be used for reduction requirements of intermediaries.

Smart contracts have capabilities of transforming multiple industries and processes, enhancing efficiency, clearity, and safety. As technology is continuing its evolution we may expect to see more innovations in smart contract use cases.

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Thanks

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