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The smart contract says, “You do this, and then you get the reward (e.g., money) for completing the task.” This smart contract works purely on the condition that a predefined value is delivered with proof of delivery. A good example would be the Proof-of-Value-delivered smart contract, which deals with the actual transfer of value in exchange for money. Smart contracts are an example of a Web 3.0 toolkit. However, if we can help organizations that don't have access to the Web 3.0 tools and resources, we can make a massive difference in a very short time. New products and technologies are reaching the market today faster than ever before. And because knowledge and innovation go hand in hand, the rate of innovation is also accelerating. We know that our knowledge as a whole is expanding rapidly. The onboarding process needs to be simple without introducing technical challenges.
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Related: 5 Types of Technology All Entrepreneurs Need Access to in the Digital Ageīridging the gap between early adopters and blockchain technologyįor the most part, corporations and organizations steer clear of blockchain projects because the learning curve is too steep, and the blockchain sector is currently an “insider party,” with most of global GDP sitting outside of the sector. Providing toolkits for a decentralized, value-driven economy can help encourage the adoption of blockchain across sectors. To eliminate these two things, we need to lower the barrier to entry across verticals with a B2B approach, connecting ideas, companies and markets with open source, fully customizable, no-code blockchain-smart contract tools to make the adoption of blockchain easy. Two major issues create a high barrier to entry: The capital expenditure needed to develop workable blockchain solutions is insurmountable for most companies, and the technical know-how and development expertise needed to build an effective solution are limited and would take too long to implement. Certain industries are slow to adopt new technologies and ideas because there's a high barrier to entry for mass participation.