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The world of finance, for ages, has been a centralized system where control and authority remain within a specific body or organization. Fraud, misappropriation of assets, and manipulation are threats that loom large over such a system. A solution to this has been found, as ever, nestled in the arms of technology – blockchain.
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Smart contracts are to traditional contracts what smartphones are to rotary phones. But how do smart contracts work? This article will walk you through each step of the smart contract process, from the initial agreement setup to the final completion and settlement, opening a door to a future where trust is built on code, not on paperwork.
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