An important element in the use of blockchain technology is smart contracts, or Smart Contracts, as they are called. A smart contract is a special protocol designed to contribute, verify or implement the negotiation or execution of the contract. Smart contracts allow for reliable third-party transactions. These transactions are traceable and irreversible. Intelligent contracts contain all the information about the terms of the contract and automatically execute all the actions under consideration.

The central principle can be compared to the activity of automated machines. They only execute the instructions given to them automatically. From the beginning, the assets and contractual terms are encoded and placed in the block of a block of blocks. This contract is distributed and copied multiple times between platform nodes. After the trigger, the contract is made in accordance with the contractual terms. The program automatically checks the implementation of the commitments.

The UppGoo team can help implement these Smart Contracts, which can greatly simplify your work within the company. An example is the use of logistics contracts: the supply chain is generally long and includes a lot of links. Each link must obtain a confirmation from the previous one, reserve the end of the contract and send the information further. It takes a lot of time and is unproductive, while with a smart contract each participant can see progress.