Review on Ethereum by francis fernandez
ETHEREUM AND ITS INTELLIGENT CONTRACTS
Ethereum is one of the most influential digital platforms developed in recent years; which makes a significant contribution to the world of negotiations, by entering the financial market with the implementation of smart contracts. This type of contract is very useful for insurance companies, real estate companies and all those entities that need to establish specific contractual clauses and ensure their faithful compliance.
Pros
- Allows the development of smart contracts without intermediaries or setbacks.
- Ensures faithful compliance with the provisions stipulated in the smart contract code.
- Avoid the payment of fees for collection and financial intermediation
- Avoid late payment in complying with the provisions of the digital contract, since the provisions are literally fulfilled as subscribed in the contract code.
- Allows users to see the transparency of transactions, since these are managed under the figure of public access blocks where all users can see the transactions.
Cons
- Its elaboration must be careful, since any error in its coding cannot be reversed.
- It is not subject to the control of a regulatory entity, since it is a decentralized platform, which can reduce credibility.
