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       contract  options  are  eliminated,  because  the  source   Legitimate, intelligent, and flexible contracts for efficient
       code of smart contracts contains instructions that react   processing, away from the new technology, are already
       to certain conditions immediately. If a condition comes   usable and enrich different industries, like in the energy
       into  force  or  is  met,  for  example,  the  transaction  of  a   supply,   telecommunications,   retail,   mobility
       certain amount takes place.                         management, insurance and automotive industries.

       Especially in combination with the Internet of Things in   Another  hurdle  is  the  currently  still  required  high
       Industry  4.0,  there  are  advantages  in  favor  of  more   computing power, which turns out to be true electricity
       efficient processes, such as supply chain management.   guzzler.  Companies  should  therefore  use  the  latest
       However, so far, the widespread use fails due to lack of   technologies  to  benefit  from  compliance  and  flexibility
       suitable business models. For various industries, there   in contract execution.
       is currently still no benefit in the technology.
                                                           For vendors, however, the step towards the digitization
       More efficient are intelligent contracts that work just like   of sales is worthwhile, because with the accompanying
       the  blockchain-based  smart  contracts  and  are  already   automation,  cases  of  fraud  can  be  effectively
       of  good  use  for  companies  today.  Cheaper  and  with   prevented, and sources of error reduced considerably.
       immediate applicability, the establishment of intelligent
       contracts is worth the effort, away from the blockchain   In  the  automotive  industry,  for  example,  digital
       hype, in existing business models.                  distribution  enables  optimal  resource  management  of
                                                           the fleet, with the effect of increasing the profitability of
       Great hype                                          car-sharing  providers  and  car  rental  companies.  This
                                                           long  overdue  step  not  only  enriches  the  automotive
       Although Blockchain and Smart Contracts are heralding   industry  but  also  the  sales  channels  across  all
       in  a  new  digital  era,  the  technology  is  still  at  the   industries. Individual demands from consumers as well
       beginning  of  its  development  and  there  is  a  lack  of   as  from  suppliers  can  be  easily  met  today  thanks  to
       portable  business  models  outside  the  BitCoin.  Even   intelligent contracts. ◊
       interfaces  and  components  that  make  their  use  in
       everyday work possible are not yet available.                                    By Daniela La Marca

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