Smart contracts are an invaluable addition to the blockchain and cryptocurrency industry. Contract Vault aims to take this concept one step further. Making agreements on the Ethereum blockchain accessible to everyone is the project’s number one priority.
Why Does Contract Vault Exist?
Even though smart contracts are of great interest to a lot of people, they will need to evolve before mainstream adoption can occur. Contract Vault wants to bridge the gap between legal contracts and smart contracts, as the latter version is not necessarily legally binding. Additionally, the project pays special attention to the creation, management, and integration of contractual processes on the blockchain.
How Does it Work Exactly?
While smart contracts are quite appealing, they are still not accessible to a lot of people. Contract templates are of great help in this regard, but they are not necessarily the best solution either. Moreover, customization remains a big problem. Additionally, creating new contracts is difficult and inefficient, especially when legal issues come into play. One could go as far as to say that most smart contracts are not that smart in the first place, although the jury is still out on that one.
One point which most people overlook is that a
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