Smart Contracts

By GK Palem December 2, 2018 #Blockchain, #Case study, #Legal, #Smart Contract

Paper based contracts cannot enforce the contract terms or track violation of agreements. Smart contracts allow the parties to digitally track the validation of the contract terms and enforce them in real-time. Problem: Customer needed a solution to digitize the paper contracts into secure, auto-enforceable agreements. Methodology: Cenacle built a secure Blockchain based smart contracts platform with below features:

Terms are extracted from the paper contract and coded into the Blockchain ledger
Contract conditions are monitored and triggered to execute the recorded code

Results: A smart contract system that not only records the contract terms but also enforces them Cenacle Blockchain based Smart-Contracts platform

Cenacle Blockchain based Smart-Contracts platform

Key concepts: Decentralized identities, Blockchain, Smart Contracts Domain: Legal, Blockchain

By GK Palem

A seasoned Executive with more than two decades of experience in growing software businesses and executing large-scale enterprise projects around emerging technologies. Proven track record of commercializing R&D concepts into commercial products. Connect with GK Palem if you are trying to adapt AI or Blockchain into Genomics, Computational Biology, Healthcare Informatics, Industrial Digitial Transformation, Cross-border Trade Smart Contracts or other deep-tech solutions or R&D concepts.

Smart Contracts

By GK Palem

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