While pitching the idea of smart contract to handle business processes, one of our client asked a very important question.
Question: What if we need a different logic/business process in future? Can we have user configurable smart contract?
Explanation: Let us say the entire logic changes due to business process change. In that case client will have to contact a solidity developer time and again whenever there is change in the process.
Our idea is to give a UI (with drag and drop option) where user can set smart contract logic and that logic will be translated into solidity smart contract.
My question is that "Is this approach feasible?"
then what are the libraries/dependencies available to do this. If
then what option do we have? What should be our approach to solve this problem.
Thanks in advance.
Smart contracts is a digital code stored in a blockchain and automatically executes when predetermined terms and conditions are met. In Simple terms, they are programs that run by the setup of the people who developed them.They are designed to facilitate, verify, and execute a digital contract between two parties without the involvement of third parties.
Greater efficiency and speed
Accuracy and transparency
Advanced data safety
Ease of use
Open source technology
Today Smart contracts are used in various platforms such as supply-chain management,cross-border financial transactions,document management,enforceability and more. Here are the Sectors where smart contracts plays a huge role ,
There are a few Important things that you need to consider before you develop a Smart Contract,
Ask Yourself -
I hope this blog was helpful. We think this is the right time for companies to invest in building a blockchain powered Smart Contracts as Blockchain technology and the ecosystem around it is changing fast. If you’re thinking about building a Smart Contract but not sure where to start, contact us, we’re happy to provide free suggestions about how blockchain’s Smart Contracts may fit into your business.
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Millionmoney is a networking program that is built on blockchain technology and ethereum cryptocurrency as p2p donation among members. Million Money occurs to be a pyramid scheme, that is you have to pay a fee to join the scheme, and then you have to refer other people to that scheme. The only possible way to make a positive return on your original joining fee is to convince enough people to join after you. You will receive a small portion of the fees from any members who you recruit, while the rest of your fees get passed to higher levels of the pyramid.
Forsage, found at forsage.io, is a MLM or multi-level marketing company that claims to have created the world’s first 100% decentralized Ethereum smart contract.Forsage ethereum smart contract "enables peer-to-peer (P2P) commission payments between its program participants.” Forsage is Ethereum Blockchain Matrix Project, this smart contract is supposed to offer any participants “the ability to directly engage in personal and business transactions.
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Etrix is a First Smart Contract With Binary open MLM structure With Two Matrixes. It has Forced Matrix and Team Matrix. Both Team and Company Forced Matrixes are working simultaneously. Etrix is noted for the fastest and easiest way to earn ethereum for every 90 days. People are using this smart contract to give donations and receive donations in form of Ethereum.
XOXO Network is a decentralized, peer to peer global powerline networking system that runs on set protocols with no admin or official authority. This Ethereum smart contract-based system requires members to choose between different smart contract projects that could potentially yield profits. XOXO Network is nothing but a crypto-based cash gifting matrix cycler program. The Network uses Ethereum as the only method of payment that is member to member. Thus XOXO is the first-ever powerline network built on a smart contract, it protocols it’s unshakable and unstoppable to work and serve everyone equally.
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