Smart Contract Generation
As you know, an online contract is a computer algorithm, used for the development, control, and provision of the required information about ownership of any property. Robosoft has implemented smart contract technology within the sphere of crypto lending services using blockchain technology. Thus, we erased the third side within the “lender-owner” relationship, leaving the automated procedure. With this service, all user has to do when applying for a loan, is a couple of clicks and a few minutes to receive the loan in the required currency.
Smart contract can be divided into:
- Subscriber. Subscriber is a smart contract side that accepts or declines terms of electronic signature usage. The direct analog of this procedure is signature of an asset sender in Bitcoin network, which confirms registering transaction in the blockchain.
- Contract subject matter. The subject matter of the contract can only be an object, located within the system of the existence of a smart contract itself, or unhindered, direct access of smart contract to the subject matter has to be ensured without human intervention.
- Smart contract terms. Terms of any smart contract should have a full mathematical characteristic that can be hardwired within the system of smart contract existence. Terms are namely the place where all procedure and reasoning of contract points fulfillment is registered.
- Decentralized platform. For distributed smart contract storage it is necessary to register it in the blockchain of the platform.
All procedure is conducted online, without additional conversations and long-lasting verification. We tried to make the system as simple as possible, providing our clients with an effective product that will seriously improve their service.