Why we choose a smart contract?

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.

1. An option contract between parties is written as code into the blockchain. The individuals involved are anonymous, but the contract is the public ledger.

2. A triggered event like an expiration date and strike price is hit and the contract executes itself according to the coded terms.

3. Regulators can use the blockchain to understand the activity in the market while maintaining the privacy of individual actors’ positions.

Smart Contacts can be used in:

Management

Ordinarily, business operations have to endure a back-and-forth, while waiting for approvals and for internal or external issues to sort themselves out. A blockchain ledger streamlines this. It also cuts out discrepancies that typically occur with independent processing and that may lead to costly lawsuits and settlement delays.

Automobile

Using smart contracts, an automobile insurance company could charge rates differently based on where, and under which, conditions customers are operating their vehicles.

Real Estate

You can get more money through smart contracts. Ordinarily, if you wanted to rent your apartment to someone, you’d need to pay a middleman such as Craigslist or a newspaper to advertise and then again you’d need to pay someone to confirm that the person paid rent and followed through. The ledger cuts your costs. All you do is pay via bitcoin and encode your contract on the ledger. Everyone sees, and you accomplish automatic fulfillment.

Smart contracts gives

Autonomy You’re the one making the agreement; there’s no need to rely on a broker, lawyer or other intermediaries to confirm. Incidentally, this also knocks out the danger of manipulation by a third party, since execution is managed automatically by the network, rather than by one or more, possibly biased, individuals who may err.

Trust Your documents are encrypted on a shared ledger. There’s no way that someone can say they lost it.

Backup Imagine if your bank lost your savings account. On the blockchain, each and every one of your friends has your back. Your documents are duplicated many times over.

Safety Cryptography, the encryption of websites, keeps your documents safe. There is no hacking. In fact, it would take an abnormally smart hacker to crack the code and infiltrate.

Speed You’d ordinarily have to spend chunks of time and paperwork to manually process documents. Smart contracts use software code to automate tasks, thereby shaving hours off a range of business processes.

Savings Smart contracts save you money since they knock out the presence of an intermediary. You would, for instance, have to pay a notary to witness your transaction.

Accuracy Automated contracts are not only faster and cheaper but also avoid the errors that come from manually filling out heaps of forms.

Smart contract in ARGO ecosystem

The ARGO ecosystem is based on the micro-service architecture and consists of many different blocks that can be divided into control modules and AR operation modules.

Data base IPFS is an integrated distributed storage of system data models. We specifically selected an integration store to be safely scalable, as desired.

Blockchain smart contract is located at the exchange and also freely available on Github for the audit.

Authorship verification means a system to show the beneficiaries of the funds raised and allocation of funds.

External API services — a set of services required by brands for informed decision making on gift distributions (products, beneficiaries, locations).

Internal ARGO API means a set of microservices that allow both brands and Gen-Z to integrate any desired content in to the augmented reality.

More about ARGOproject progress see on our website. Hurry up — it’s time to join pre-ICO and last bounty-weeks.