CGCX - Smart contract is the most complete method for online transactions.

longnam (32)in #cryptocurrency • 6 years ago (edited)

Hello friends. In some old posts, I introduced you to the CGCX project, how the project works, the strengths and weaknesses of the project, and how to develop it. Today I want to talk more specifically about how CGCX protects their transactions, transactions that are considered absolutely safe.

Of course there will be new readers who may not have watched my content, I hope you will spend some time reviewing HERE or I will briefly discuss the purpose of the project.

What is this project?

CGCX strives to create a large economy that can potentially promote the massive adoption of electronic money. Project developers have developed comprehensive approaches that can lay the foundation for a robust e-money user community, including, but not limited to, companies, startups, translators, buyers and sellers.

The research team at CGCX has developed this platform to meet the growing demand from mainstream traders and investors. They believe the ease of completing the transaction, along with the reliability and security of the platform, will expand the acceptance and use of electronic money daily.

CGCX aims to expand rapidly, with plans to expand to specific areas, and eventually to become a worldwide entity. Their sophisticated, advanced, advanced cryptography platform will debut in Singapore, as the first step in their long journey to become a global leader in cryptographic and cryptographic solutions. blockchain.

Smart contracts are making operations easier in just about every industry

Although it may be a fairly new technology that is still developing, smart contracts are already having an impact for early adopters. Here’s how smart contracts are making life better for CMOs.

What are Smart Contracts?

Like traditional contracts, smart contracts set forth terms in which you or another party promises to exchange money or anything else of value in a clear-cut and legally enforceable way. Unlike typical contracts, though, smart contracts can manage themselves and execute the terms of the deal automatically. This is made possible by blockchain technology.

The folks at Blockgeeks have a great analogy for describing how smart contracts work.

The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations."

Once signed, the digital contract will be able to manage itself. It can carry out the terms of the agreement on a regular basis and can even automatically pull and transfer money to payees. It can automatically impose penalty fees if the contract is violated, and one of the biggest benefits is that they’re just as easy to draft as traditional contracts, and existing contracts can even be converted into smart contracts.

The technology has a lot of different applications and marketing is no exception. As a CMO, smart contracts can make your work easier by taking over the task of managing the many contracts you have with vendors and freelancers. “Ultimately, smart contracts will save you a lot of time and energy and allow you focus on things that are more important,” says Anand Swami, CEO of CGCX.

How Will Smart Contracts Affect CMOs?

Contracts with vendors and freelancers will be more secure. In general, contracts are confidential documents meant only for the parties who enter into the agreement. Some contracts, however, are more sensitive than others. Whether they disclose trade secrets, proprietary information, or other information that is need-to-know only, it’s important to keep these documents protected, so they don’t fall into the wrong hands.

Many contracts and other documents are stored electronically; although it’s much easier and can be more secure than paper files, there’s always the risk of a hack or data breach that could compromise files, including contracts. But thanks to blockchain, smart contracts are much more secure. Blockchain encrypts and stores data within itself, making it much more difficult to hack, and transactions recorded on the network cannot be changed or altered.

Vitali Prymak, CEO of Central Park Tours believes this is a huge differentiator. "By using smart contracts even if there is a hack or data breach you know your contracts with your vendors and freelancers will be secure and remain confidential.”

Yes ... Even if the idea of the foundation is good, the first thing is to protect the safety of the user. Smart contract is a "smart" option. If interested in the project, please go to the links below to get acquainted with CGCX.