Application of smart contracts in commercial business - Recommendation for enterprises in Vietnam
Year: 2024
Type: article
Abstract: The Industrial Revolution 4.0 and modern technology have had a significant impact on Vietnam’s economy. One of the most notable developments is the emergence of blockchain technology. “Smart contracts” or “virtual contracts” have become an important term on the Blockchain platform, offering many advantages and being widely deployed in areas such as finance, business, trade, and insurance. Although smart contracts have potential benefits, businesses are still hesitant to establish them. The article employs analytical methods and synthesizes data to provide evaluative insights. Additionally, this article analyzes the concept and characteristics of smart contracts, the trend of applying smart contracts in some countries worldwide, and provides suggestions for Vietnamese businesses on how to apply smart contracts, along with notes and recommendations.
Authors: Dat Tien Nguyen, Dung Cam Huynh, Tran Bao Anh Nguyen
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4404251158