27 Aug '16, 7pm

by @RichieEtwaru

by @RichieEtwaru

When organizations are autonomous, and trust and consensus are at least available if not abundant, they can exchange value seamlessly in direct peer-to-peer (P2P) networks. Here P2P is really a heterogeneous mix of organizations (sometimes fierce competitors) and consumers creating B2B2C networks. The power to exchange value is no longer in the center of the network for verification systems, contracting agencies or intermediaries to arbitrate. The power to exchange value freely, transparently, and reliably moves to the edge of the network. Smart contracts enable digital agreements between unusual parties and can be executed automatically by a computing system. By lowering the costs of contracting, enforcement and compliance, they make it economically feasible to use contracts to authenticate and enforce even low-value transactions.

Full article: http://www.cio.com/article/3110606/leadership-management/...

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