Easily Replace Smart Field from the Asset Management Agreement

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How to Replace Smart Field from the Asset Management Agreement

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[Music] hi im billy keels the host of the going long podcast every week im going to be here interviewing the absolute best in the business as it relates to real asset investing as well as real main street investors were going to be having conversations where you can listen in and thats going to help you to continue on your path to education so that you feel much more comfortable as well as confident in investing long distance so make sure that you uh that you go ahead and subscribe to the channel make sure that youre liking it as well because that way you can get every single episode as soon as it comes out and by the way dont forget to leave todays episode of five star review lets go ahead and listen to todays conversation welcome to the going along podcast were back once again to continue to help to educate you so that you feel comfortable as well as confident investing beyond your backyard im your host billy keels and you know what if youve ever wanted to go from being a

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What is the difference between smart contract and normal code?

Traditional contracts can be forged or tampered with if they arent verified and protected correctly. Smart contracts cannot be changed once deployed. Every interaction with every smart contract is recorded on the blockchain and can be audited.

Why are smart contracts better than normal contracts?

One of the first advantages of smart contracts is that do not require the authority of a third party to verify their authenticity. This allows the parties involved in the contract to save time and money, for a particular transaction. Furthermore, authenticity is certainly an important advantage of smart contracts.

What are smart contracts replacing?

Trust can not only be subjective, but also broken. Smart contracts replace the need to have a trusted intermediary when there is a transaction to be made by allowing the trusted intermediary to be coded logic and allowing for code to be law, he says.

What are smart contracts often compared to?

Smart contracts were first proposed in the 1990s by a computer scientist and lawyer named Nick Szabo. Szabo famously compared a smart contract to a vending machine.

How smart contracts are changing the world?

Smart contracts take the ideas that we have in terms of financial money transfers and improve them drastically. No longer do we have to rely on human agreement and manual manipulation. Once a smart contract is set up, the contract will operate on its own based on the parameters of the agreement.

Can smart contracts be modified?

So then how can smart contracts be upgradeable? The short answer is that smart contracts are not themselves able to changetheyre permanent and immutable once deployed to a blockchain.

How are smart contracts different from other programs?

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediarys involvement or time loss.

How is a smart contract different from a normal program?

Smart contracts are, in essence, computer programs that automate the enforcement of terms. Traditional Contracts, on the other hand, are sets of agreed-upon terms which are enforceable by law and are described in a natural, human language.

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