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Blockchain and smart contract development are changing the world as they are revolutionizing business practices. It is economically efficient and can easily streamline transactions, remove intermediaries and better aligns business interests.
There is no denying that the disruptive potential of blockchain and self-executing smart contracts is bringing a potential change in the commercial and legal landscape due to their immutable and irreversible characteristics.
There are several architectures that exist for blockchain application development, distribution and management of smart contracts. For instance, you can link smart contracts to different payment systems or digital exchanges or can be kept on the blockchain or a shared ledger.
According to a report, the global smart contract market is projected to reach $1460.3 million