Unlocking physical objects with digital smart contracts

Unlocking physical objects with digital smart contracts

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Smart contracts are blockchain-based areas of code that activate independently when particular criteria have been met, including financial conditions — payments can therefore be made and recorded autonomously without the need for bank-like third parties. We’ve covered how smart contracts can be used to buy and sell solar energy, and now Slock.it are aiming to bring blockchain into the physical world and are using the technology to literally open doors.

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