How Smart Contract Adoption at Grassroots Level Could Pave the Way to a New Future

Time:2021-12-29 Source: 988 views Trending Copy share

Blockchain-based smart contracts are increasingly being used to streamline routine business processes. Individual consumers and businesses can benefit from leveraging the power of these contracts, or automated business logic, in order to complete transactions in a reliable manner. However, these types of contracts are not always easy to implement, especially for people that are not very tech-savvy.

The average person or company, which is not able to work with complex computer programming and coding, may not be able to effectively leverage smart contracts to improve their business procedures. These individuals or firms may need to automate certain deposits, transfers or even add a signature to a particular contract.

In order to write smart contracts for these requirements, these companies will need a skilled programmer, and they will also need to trust them to write proper code that’s free of errors. This current process involves learning many complex and highly technical concepts, which creates a barrier between what the company wants to implement and reality.

Making Smart Contracts More Accessible for All Users
There are a number of projects in the market that aim to address these challenges so that everyone can leverage the benefits of smart contracts. For example, Transient’s TSC-Core has been introduced so that it can allow the average person or company to effectively use programmable contracts for their business needs.

The team at Transient notes that they are making their creation available to non-coders so that anyone can create powerful decentralized applications (dApps) for a range of use-cases.

As explained by Transient, their TSC-Core product/platform can be used by just about everyone. The primary goal of TSC-Core is to make the process of writing a Smart Contract available to people who are not very tech-savvy. These people may have very creative or useful business ideas but are not able to convert them into practical solutions because they are not skilled software developers. However, Transient aims to break these entry barriers to increase blockchain tech adoption.

In order to use this service, you just need to fill out a simple form. End-users are required to provide the information the Transient team needs and they’ll give you the power of participating in the blockchain or distributed ledger tech (DLT) market.

As explained by its developers, there are just a few simple steps you have to complete and you’re done. And if this innovative tech wasn’t enough, the user interface (UI) and user experience (UX) make it more intuitive for end-users to issue their own smart contracts.

The “Amazon of Smart Contracts”
The Transient team also notes that if you had joined their Testnet Promo (Kovan), then you would be able to check the usability for yourself. The team also mentioned that TSC-Core is just the first dApp, with many other contracts for you to choose from. That’s why people call their solutions the “Amazon of the Smart Contracts,” the developers claim. After their Mainnet goes live, end-users will be able to use it anywhere, anytime, the company noted.

While commenting on what makes TSC-Core so useful, the team explains that imagine if you are a regular person or company that’s unable to work effectively with computer code, but has a need for a deposit, transfer or even for adding certain terms or conditions to business contracts. This requirement can be addressed with the help of TSC-Core, the company added.

They’ve also given the example of a startup that’s conducting a private fundraiser. As noted by the Transient team, the organizers of the raise need not email all the details of their wallet addresses for payment (not particularly a good idea due to privacy and security reasons). Instead, they are able to create an easy-to-use platform, with a Smart Contract to handle the process of receiving the money from their investors. The investor would simply have to go to the Transient platform and make a quick payment with “no room for error.”

Another example of a use case could be a company providing a service and would like to get paid in cryptocurrency. A smart contract with the amount and expiry dates would eliminate the requirement of issuing and providing many different invoices to receive the payments. The payee would just have to access the Transient platform and make the payment before the contract has expired.

We may also use Transient’s TSC-Core for entering and managing rental agreements. As noted by the developers, a smart contract with expiry timing and the determined values of payment can make it easy to manage the rental agreement.

Smart Contracts Will Become the Norm
In the foreseeable future, blockchain tech and smart contracts will become a critical part of the business and financial services sector. Most individuals and companies won’t even realize or think about whether they are using these technologies or how they work. End-users will simply be able to leverage this transformative technology in order to realize its vast benefits.

They will not have to concern themselves with all the technical details associated with writing smart contracts, as these will be abstracted away. They’ll mainly be focused on using these tools to carry out business processes in a more efficient manner.

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