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Smart contract blockchain 30,Gartner report: blockchain smart contracts will improve the company's data quality by 50%

Time : 29/11/2021 Author : skmw74 Click : + -
        According to ambcrypto2, a recent report released by Gartner, a research company, shows that blockchain smart contracts are expected to improve the overall data quality of the company by about 50% by 2023. In short, a smart contract is a piece of programming code that is consistently executed on the blockchain. Gartner's report also predicts that by 2023, the overall availability of data assets will decline by 30% because smart contract rules will reduce the availability of corporate data. When talking about this prediction, lydiacloughertyjones, senior research director of Gartner, said that when an organization adopts blockchain smart contracts, whether they are externally enforced or voluntarily adopted, these smart contracts will benefit from the improvement of the quality of relevant data.
 
        Interestingly, lawmakers in many U.S. states have recently been studying the use of blockchains and smart contracts. For example, the Illinois blockchain Technology Act (BTA), which recently came into force, aims to solve the uncertainty of the legal status of blockchain and smart contracts in Illinois. Gartner's report also points out that the adoption of blockchain smart contracts has a far-reaching impact on analysis and decision-making, which improves the transparency, speed and granularity of decision-making. "Smart contracts are very important, and leaders in data and analysis (d&a) should pay attention to this technology, because they can ensure a near certain credible transaction.
 
        Once deployed, the blockchain smart contract will become immutable and irrevocable. Through immutable code, it enforces an established commitment of what needs to be done and what does not need to be done in the future. ". At the end of the report, Gartner analysts suggested that data and analysis leaders can start deploying blockchain smart contracts to automate simple business processes. They also suggested that organizations pilot blockchain smart contracts to multi-party smart contracts in well-defined ecosystems such as banking and finance, real estate, insurance, utilities and entertainment.
 
        
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