One of the most important aspects of Entercoin’s integrated system is Smart Contracts, a new technology that has entered the IT world recently and promises a new era of information management and business processes.
In order to clarify this aspect, which is still ambiguous to many, I will talk about the first intelligent application of the Entercoin system developed by the team to work with UNICEF to build a smart application that allows:
UNICEF seeks to apply programs related to the communities it serves, such as Palestine, for awareness programs or assistance for development and education.
There is a real problem with tracking food or financial aid, for example, provided by global agencies, and ensuring that it is properly delivered to those concerned without manipulation or delay.
We have developed an application called EnterPact, which allows intelligent contracts to be created between the various stakeholders involved in a particular task, such as delivering assistance to build a school or sending lecturers to conduct courses.
Using this application, the system follows up the contract and the stages of implementation from different parties in a manner that ensures smooth operation without delay, exploitation or procrastination.
When a specific point is executed at the specified time and place, the system records and maintains this information on Blockchain and pays the parties who have completed their mission in the process.
In case one of the parties fails to carry out any demanded task in the specified place or time, the application shall notify all interested parties and establish a new contract under new conditions.
The program is open source and will be available to the public for addition, modification or use in various projects and contracts.
These quick summary points show the possibilities of the system, but lack a lot of details that have no place to be represented in this text at this stage. But this is an Entercoin application and Entercoin will be its main currency.
It should be noted that negotiating such a case with UNICEF shows each follower where Entercoin is heading. Entercoin has already started talking to the world’s largest institutions while she is still in its cradle … How would things be when she grows up a bit?
The Entercoin team is preparing for a big and lucid future, and its goal is more than just rising the price of a currency. The team’s goal is to make Entercoin reach global stardom to become a school in the wonderful world of Cryptcurrency.