Contracts are indispensable for any business, and it is a requirement that establishes rules to be followed by everyone involved. Usually, lawyers create a warranty that covers everything their client wants to achieve in a business, and the regulations established in that warranty should not be altered. Any breach of the contract can cause lawsuits and legal charges. 

At least, in theory, smart contracts work in the same way, but their characteristics change a bit and the way they are executed, too. In the blockchain, lawyers have very little work because these contracts are computer codes and protocols that make it easy to verify and fulfill what has been agreed upon automatically. Human intervention is not necessary for a smart contract to be enforceable. 

Smart contracts allow millions of people to enter a massive financial market; by being registered in the blockchain, these transactions are reviewed only by the network nodes without any other dependency. With a smart contract within an NFT, we can buy and sell digital and physical assets with fewer processes than the traditional way. 

Landian’s smart contracts are executed and stored in NEAR Protocol; data storage requires inviolable security. The more sensitive information is stored, the higher levels of security are needed. This is critical for decentralization. NEAR achieves world-class decentralization.

Landian is a testing ground for builders, designers, marketers, talents, and all people who bring ideas to the metaverse. At Landian, the number of smart contracts is unlimited depending on the land. The NEAR blockchain permanently records transactions with transparency. Your idea can become a reality in Landian, and the legal requirements you need to carry out this idea are secured thanks to smart contracts. 

What do you think about smart contracts? What are the benefits of a smart contract versus a traditional one? Tell us in the comments. 

The Landian Team

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