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Top 5 Sectors where Smart Contracts can be applied successfully What are Smart Contracts? Smart Contracts technology help you exchange money, property, shares or anything valuable in a transparent and hassle-free way that too avoiding the intervention of any third-party.
Ethereum blockchain is mainly used to encode this smart contracts. While conducting on blockchain this contract becomes a self-operating program that automatically works when specific conditions are met. As they run over blockchain technology with the help of Ethereum, they get all the benefit and thus safe to run. Here are 5 best-known sectors which can use smart contracts for a successful business process. Real Estate: The selling or buying of properties usually involve third-party intervention along with a lot of paperwork. There is a difficulty in controlling ongoing lease agreement, property operations and cash flow due to involvement and dependencies on landlords, tenant and property managers, and other vendors. Smart contracts development can come into the scene which can make the agreement process easy even by managing time and security.