Smart Contracts

Concept:

Smart contracts (also called self-executing contracts, blockchain contracts, or digital contracts) are simply computer programs that act as agreements where the terms of the agreement can be preprogrammed with the ability to self-execute and self-enforce itself. The main goal of a smart contract is to enable two anonymous parties to trade and do business with each other, usually over the internet, without the need for a middleman. The origin and history of smart contracts is much older than bitcoin and dates back to the 1990’s.The term ‘smart contract’ was first coined in 1993 by one of bitcoin’s alleged creators, Nick Szabo, and referred to self-automated computer programs that can carry out the terms of any contract. (Blockchain Technologies).

Below is a non-exhaustive list of examples of services making use of smart contracts made by CodeTract.

AKASHA is a next-generation social media network creating a planetary-scale information network immune to censorship by design, where your thoughts and ideas will echo throughout humanity’s existence.

Attores is a Smart Contracts as a Service platform. We make it easy for you to write, submit and execute Smart Contracts on the blockchain.

Augur combines the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool — and the chance for real money trading profits.

Balanc3 is a smart contract powered Triple-Entry Accounting system. Balanc3 uses the non-repudiability and comprehensive audibility of the blockchain to guarantee the integrity of accounting records.

BoardRoom is a next-generation organization governance apparatus that enables distributed decision-making on the blockchain. The platform has systems associated with the stages and organization of decision-making.

CodeTract provides a service for employees to receive their salary in Ethereum fiat money tokens and providing a seamless on-boarding experience onto Ethereum.

Decentralized Capital provides users with a secure, convenient way to bring Dollars, Euros, and other government backed currencies onto and off of the Ethereum network.

Digix is an asset-tokenisation platform built on Ethereum. They leverage the blockchain’s immutability, transparency and auditability by applying it to precious physical assets.

Edgeless is a Ethereum smart contract-based casino that offers a 0% house edge and solves the casino transparency question once and for all.

Ethereum Name Service offers a secure and decentralised way to address resources both on and off the blockchain using simple, human-readable names.

Etherisc is building decentralized insurance applications, making the purchase and sale of insurance more efficient, enable lower operational costs, provide greater transparency into the industry of insurance compared to traditional operations, and democratize access to reinsurance investments.

EtherLoan is a decentralized crowd-lending platform that enables financing transactions without middle-men, at very low cost and with a high security level, thus facilitating access to loans for developing economies and small loaners.

Etheroll is an Ethereum smart contract for placing bets on provably-fair dice game using Ether with no deposits or sign-ups.

Etherplay is a skill game platform where players compete for high scores while playing fun little games. Similar to arcade machines, players pay a small fee to enjoy some fun time. The twist is that you get some money back if your score is among the highest.

FirstBlood is a decentralized eSports gaming app that will allow individuals to test their skills and compete in 1v1 and team vs team matches for popular online games such as League of Legends, Dota 2 and Counter-Strike: Global Offensive.

Gnosis is enabling complex predictions with an easy to use prediction market.

Golem is a global, open sourced, decentralized supercomputer that anyone can access. It’s made up of the combined power of user’s machines, from personal laptops to entire data centers.

hack.ether.camp is creating the ideal innovation environment for startups by utilizing blockchain technology for the release of a Virtual Accelerator.

Humaniq is developing a completely new banking experience by dissolving all the barriers of archaic banks such as the need to come to a branch, doing endless paperwork, dealing with hard-to-use, buggy mobile apps, and protecting data with hard-to-remember, complex passwords.

Iconomi enables the creation of your own Digital Asset Arrays™ (DAA) from a wide variety of digital assets. Manage them and compare your performance with others. Attract supporters and make your mark in the new distributed economy.

iEx aims to provide distributed applications running on the blockchain a scalable, secure and easy access to the services, the data-sets and the computing resources they need. This technology relies on the Ethereum smart contracts and allows building a virtual Cloud infrastructure that provides high-performance computing services on demand.

JAAK connects songs, films, and TV shows directly to the artists, producers, writers, and organisations that create, own and distribute them.

Lunyr is an Ethereum-based decentralized crowdsourced encyclopedia which rewards users with app tokens for peer-reviewing and contributing information. We aim to be the starting point of the internet for finding reliable, accurate information.

Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token — the Dai — against the IMF’s international currency basket SDR.

Matchpool will allow individuals to create “pools” based on particular interests. These pools aim to facilitate connections among friends and niche communities and will come with a number of features including messaging and a digital currency wallet.

Melonport enables participants to set up, manage and invest in digital asset management strategies in an open, competitive and decentralized manner.

Monolith brings the Visa payments network to Ethereum. It represents a generational leap from traditional debit cards by putting the user back in control, offering an entire platform of features and setting the bar for security.

Project Oaken makes ‘ACORNs’, for each physical application within the real world. Our IoT blockchain platform design uses Nodejs to interact with the gpio of the machine where hardware can be monitored and controlled. Our secure hardware environment utilizes Secure Elements in each acorn to protect against external threats. Acorns each have a special purpose, but can be easily scaled and replicated for multiple applications.

raidEX is a decentralized exchange built on Ethereum and Raiden off-chain state channel technology that fixes the custodian issue but preserving high throughput and low latency.

Singulardtv is a blockchain entertainment studio, smart contract rights management platform and video on-demand portal.

Slock.it makes Airbnb apartments become fully automated. Smart objects can be rented on demand and unused vehicles get a new lease on life. We’re developing the future infrastructure of the sharing economy.

Status is a mobile Ethereum OS. Seamlessly interact with the emerging ecosystem of DApps, wave goodbye to central intermediaries, and take control of your data.

uPort is an open source software project to establish a global, unified, sovereign identity system for people, businesses, organizations, devices, and bots.

Ujo is a new shared infrastructure for the creative industries that returns more value to content creators and their customers. Their open platform uses blockchain technology to create a transparent and decentralised database of rights and rights owners and automates royalty payments using smart contracts and cryptocurrency.

Weifund is making crowdfunding user-friendly, thoroughly-tested, and interoperable. It is an open platform for crowdfunding campaigns.

WeTrust is a collaborative savings, lending and insurance platform that is autonomous, agnostic, frictionless, and decentralized.

Winsome is leading the gambling revolution powered by Ethereum through dapps that provides a full user experience to our players with a graphical interface, 3D and very fast play times.

Applications:
  • Government
  • Management
  • Supply Chain
  • Automobile
  • Real Estate
  • Health Care
  • Music Industry
Use cases:
Resources: