Harmonizing Systems: Smart Contracts and Interoperability
Channel: World Economic Forum
Date: 2020-12-11

Blockchain and distributed ledger technologies facilitate reliable exchange between unfamiliar parties without the need for traditional third-party intermediaries. One of the most discussed innovations of this technology is the Smart Contract – a computer protocol that leverages cryptography and immutability of on-chain data to enable self-executing, credible, irrevocable and transparent transactions.

While blockchain ecosystems can benefit with relative ease from Smart Contracts, this innovation’s potential to drive efficiency and transparency can only be truly realized at a global scale if Smart Contract systems can communicate easily with non- blockchain systems (Oracles) and establish the same level of trust as the Blockchain systems they are deployed on.

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/ 
Twitter ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#WorldEconomicForum