"Smart Contracts" That Use Blockchain

Jul 25, 2023, 10:04 AM

(from FEI) Cryptocurrency or digital assets were just the first product to come out blockchain technology. Smart contracts are the next frontier. Unlike a traditional contract, through which money is exchanged for goods, a smart contract completes automatically if conditions are met. Accounting for digital assets is currently "creative," due to lack of regulatory guidance. AICPA has a guide, as to do other organizations, but there are no firm standards yet. 

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