One of the most important roles of the CcS Organisation is to provide a stable platform for smart contracts. Smart Contract providers will play an important role in the future to provide a gateway for smart contract publishing, smart contract storage, smart contract validating, smart contract auditing, etc. On the blockchain one of the goals from smart contracts is to simplify business management, digital assets management, digital collectibles management, online governance, equity control and many other solutions. Smart contracts will play a vital role in the future of humanity and its dominance in the world of blockchains. There is currently a small amount of Smart Contract Provider platforms available such as Ethereum, Tronix, Binance Chain and a few others such as Qtum, Waves, Dragonchain.
Why are smart contract providers crucial for blockchain adoption?
The reason why there is such a growth in smart contract providing services is because of the growing need to succeed a form of exchanging without the involvement of a middleman. Over the past few years many projects have explained why decentralization is so important and how they will contribute to it. For most of these projects it will be unlikely that they become a smart contract provider due to the ongoing requirements and dedication to provide a stable and market demanding service. However Smart Contract Providers will continue to play an important role to facilitate decentralization solutions to other entrepreneurs, organisations and companies that need to enchant their business, project, non-profit or charity to take a step towards decentralization. Smart contracts scale down on formality as well as costs associated with traditional methods, without compromising on authenticity and credibility smart contracts via the blockchain connectivity will be the protocol of exchanging on a global scale.
Trustworthy digital intermediary solution
Without a doubt smart contracts are the most trustworthy intermediary solution that currently exist on the planning. Having said that, there is a lot of requirements and researching to do towards a more optimized smart contract compatible future. Until then centralized intermediary protocols remain to serve an important role in providing and connecting several parties in an exchange process, share of equities, management of specific types of data, etc.
Smart Contract Provider range of services
Smart Contract Providers have a bigger range of services available at first hand. Once a public decentralized blockchain is published anyone can access it to release a smart contract on it. In a truly decentralized and non-editable blockchain this is certainly the case. However, not everyone might be capable of making the required adjustments to a smart contract in order to serve a specific purpose. One of the potential duties of Smart Contract Providers is to provide the creation process of a smart contract as a service.
Smart Contracts for small and medium sized companies.
Smart contracts are already playing an important role for many small and medium sized companies. In many countries around the world there is a growth in the figures of how important small and medium sized enterprises are serving a backbone to local economies. The role of small and medium sized companies is crucial to the worldwide economic and social developments. Since more then 50% of all humans working in small or medium sized companies the impact on the global economic is simply said huge. In the Netherlands for example, more then 90% of all companies are small or medium sized corporations. All together they are responsible for 60% of the value of the Dutch Economy. Knowing that small and medium sized companies are daily confronted with a high number of challenges there is a drastic need for more smart contract based solutions. Some of the limitations that small sized and medium sized companies run into are:
- Limited access to financial support
- inefficient procedures
- Lack of necessary information
- Limited access to resources
- Unnecessary High operational cost
Blockchain Adoption growth for Small and Medium sized companies
Even though at this point most people are relating blockchain solutions to larger companies, blockchains are starting to create a wave of opportunities for small and middle sized companies. There are possibilities within every sector to solve existing challenges with blockchain involvement and smart contract management. Thanks to smart contract managements there is a rising range of opportunities and models unfolding for small and medium sized companies. Until not long ago there were more then one obstacles that caused a slower adoption rate of blockchain and other distributed ledger based technologies by small and medium sized companies. Now that the world is starting to understand the purpose of blockchain better as well as governments who have found ways to compromise to the blockchain technology and adopt it within their laws and economics there is now a drastic change in the adoption of blockchain by small and medium sized companies.
Challenges with blockchain among small and medium sized companies
Beside the fact that small and medium sized companies are the backbone of any major economy segment in the world, small and medium sized companies face a lot of challenges. They face a lot of issues such as finding financial support, upscale their operations, process payments, recruit other essential service providers, Emerging economies. Blockchain can generate a lot of new jobs, economic solutions, stock management, agreement validations and a lot of other daily operations.
Challenges in the market for small and medium sized companies
- Financial loans
- Financial trading
- Cashflow issues
- Personal identity
- Adoption of new technologies
Use cases for small and medium sized companies
- Smart contracts
- Financial trading
- Funding collateral
- Identity management
- Record management
- Supply chain finance
Advantages for small and medium sized companies
Blockchain technology in combination with smart contract development has great potential to offer many different advantages to small and medium sized companies.
- Speed & Instant
- Safety & Security
- Risk reduction
- Lesser identity fraud
- Less hacking attacks
- Reducing time
- Reducing costs
- No paperwork
- global access