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Unlocking Privacy on Ethereum with Paul Brody
Bankless
Smart contract blockchains let IRL companies automate business transactions at 10000x efficiency
Enterprises can automate their transactions using smart contract blockchains, leading to increased efficiency. Business contracts often involve agreements, terms, and conditions, which require time and effort for verification and payment approval. However, with smart contracts, these processes can be instantly and inexpensively automated, matching business agreements with invoices. Private blockchains have already demonstrated significant improvements, such as reducing the time it takes to process monthly transactions from 45 days to five minutes for Xbox video game network, and cutting costs by half. Tokens on blockchains provide real control, allowing for reliable information and automation, unlike conventional systems that require reconciling multiple pieces of information.
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