siliconindia | | APRIL 20224With the advent of modern technology and innovation, we are moving towards a more digitised world where automation is the name of the game. The ideas surrounding the blockchain, artificial intelligence and big data are revolutionary and are poised to change the way business and human infrastructure operates. Today, these the concepts are closer to us than one might first think, and stand to indelibly change our lives. This brings us to a concept of smart contracts.Few things to note about a Smart Contract for the new enthusiasts of technology; Smart contracts are a type of Ethereum account. This means they have a balance and they can send transactions over the network. However they're not controlled by a user, instead they are deployed to the network and run as programmed. User accounts can then interact with a smart contract by submitting transactions that execute a function defined on the smart contract. Smart contracts can define rules, like a regular contract, and automatically enforce them via the code. Smart contracts cannot be deleted by default, and interactions with them are irreversible. A smart contract efficiently automates the execution of business contracts involving frequent manual transactions among multiple parties. It automates error-free execution of contracts that are narrow, objective, mechanical with straightforward to complex clauses, and clearly defined outcomes. The use of smart contracts in automation includes self-executing computer programs, which makes it possible to automate processes, payments to enhance efficiency fuelling the global smart contracts market. Furthermore, rising government initiatives in blockchain technology boost the growth of the global smart contracts market.Smart Contracts can bring in a new revolution in the legal system between parties. This edition is a special feature bringing the Smart Contract Development in the mainstream.So let us know your thoughts.Emmanuel Christi DasEditoreditor@siliconindia.comEditorialThe Future of Smart Contracts Vol 11 · Issue 04 - 05 · April, 2022 Publisher Alok Chaturvedi Editor Emmanuel Christi Das Editorial Team Aveek Pal Chaudhuri Hima P M Mandvi Singh GM - Sales & Marketing Rohit Kumar Advertising Managers Editorial queries editor@siliconindia.com To subscribe Visit https://www.siliconindia.com/subscribe/ or send email to subscription@siliconindia.com Cover price is Rs.150 per issue. Printed and Published By Alok Chaturvedi on behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2022 Siliconmedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.advertise@siliconindia.com Visualisers Mohana Krishnan Rajesh Ram Group Art DirectorAshok KumarCirculation Manager Magendran Perumal Ashwini D Naik Shilpa Selva Felisha Rita Correspondent Soumya JAssistant Editor Ananth VAssociate Editor Indranil Chakraborty
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