Blockchain Technology and Digital Governance -Smart Contracts

SMART CONTRACTS

The most popular applications of blockchain by far are Financial instruments like crypto currencies, after Bitcoin revolutionising the financial market by showing how a P2P money works, many cryptos flooded the market , in the recent times the applicability of blockchain expanded beyond financial instruments to improve many aspects of our lives, smart contracts helps us to transfer or exchange value of any form in a conflict free way with less inefficiencies.

Some potential smart contract use cases include :

1. Royalty Distribution in Music and Digital Media : Smart contract eliminates digital rights theft and allows royalty revenue on purchases of creative work to be automatically calculated and distributed to artists and other associated entities according to the rules of the contract.

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