The Next Evolution of Business Contracts

Blockchain-based "smart contract" technology has the potential to revolutionize the way people do business. But it can't do that if it isn't presented in an accessible manner. Smart contract app development must keep user-friendliness in mind while taking advantage of the full benefits of the blockchain.

Wve Labs offers smart contract app development for businesses in finance, insurance and other industries. We know the tech and have the team necessary to build an exciting, accessible product that delivers on its promises.

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What Is a Smart Contract?

A smart contract is a type of contract that uses blockchain technology to execute and enforce its terms. Cryptocurrencies such as Bitcoin and Ether are a type of smart contract — all transactions using them are transparently stored in a public ledger.

However, smart contracts have the potential to be used for more than just monetary transactions. They can prevent fraud, provide enhanced security and even lower transaction costs. Specific benefits depend on the application and, in many areas, the full advantages of the technology are still being explored.

 

Use Cases for Smart Contracts

Several potential uses cases for smart contracts have been identified — or are in the process of being implemented. These include:

Digital identity & records management

Users can employ a type of smart contract to verify their identity online and manage what information is publically available as well as what is accessible to banks and other third parties.

Smart contracts can automate record management with auto-release and auto-renew functions in compliance with UCC, HIPAA and other standards.

Mortgaging, Insurance, & Publishing

Smart contracts can simplify the mortgage application process — and associated fees — by securely connecting various parties including buyers, sellers, lenders and notaries;

they can simplify the claims settlement process by making verified data more accessible, saving time, reducing paperwork and keeping administrative costs to a minimum;

and, they can potentially help ensure writers, musicians and other content producers recieve fair compensation when their work is used.

Smart Contract Apps

Mobile apps are an ideal platform for smart contract management and other decentralized, blockchain-based technology. Several tools are available for developers and designers, but these merely provide a starting point. Going beyond that, good design can make smart contracts more accessible to users and ultimately enhance the viability of the technology.

Wve Labs is a Los Angles blockchain application development company that is capable of creating sophisticated smart contract programs. Working primarily with Ethereum, Hyperledger and MultiChain, we do the work necessary to match your project with the best platform. That includes the technical stuff as well as getting to know your business and your broader objectives.

We are an end-to-end partner to our clients. From the initial consultation and R&D to the final launch, you'll receive the full attention of our company and the full resources of our international team.

Explore our Portfolio and Press coverage to learn more, or contact our office to start discussing your project today.