If crypto assets are shaking up finance, how do you stabilize risk? | EY
Smart contracts represent a milestone in the evolution of digital agreements. The concept was initially conceptualized by computer scientist Nick in the 1990s. It remained mostly theoretical until blockchain technology emerged. Platforms, like Ethereum, which came to life in 2015, provided a foundation for implementing contracts. These contracts contain predefined terms and conditions and trigger execution when specific requirements are met, without the need for intermediaries. This breakthrough has not only streamlined processes but also greatly reduces the potential for disputes and fraud across various industries.
Smart contracts also play a crucial role when it comes to risk management. For example, they can be…
