With contributions from Zerado, FinTech Network have produced a whitepaper that looks at smart contracts and how they could improve efficiencies within the banking sector. The whitepaper highlights:
- How smart contracts aim to provide security that is superior to traditional contract law and ways they can reduce other transactional and administrative costs
- The workings of Ethereum as one of the best examples of smart contracts in practice
- Ways that smart contracts could benefit areas such as mortgages, clearing and settlement, KYC bonds
- How challenges with conceptual misalignment, inflexibility, contractual secrecy and legal jurisdiction could hinder the use of smart contracts in financial services
If you would like to take a look at the Smart Contracts – From Ethereum to Potential Banking Use Cases Whitepaper, you can view it online at http://bit.ly/SmartContractsFN
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