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We all know that the Blockchain technology is the underlying platform for emergence of Bitcoin and Crypto currencies. Because of its secured distributed database and associated philosophies like immutability makes blockchain a growing technology with the increased adoption by various verticals, especially Finance & Government.

However, the industry finding the biggest use of Blockchain technologies in the form of Smart Contracts. Smart Contracts are software-defined version of existing paper-based contracts – in the sense that they are basically a set of compiled code that runs inside a blockchain network. By inheriting the qualities of blockchain like distributed leger, cryptographically signed, immutability etc., smart contracts enable enterprises to get into trust-based legal agreements which reduces the cycle time of business operations and reduce the cost of executing them.

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