SINGAPORE, Nov. 26, 2018 /PRNewswire
Singapore-based startup CSE SG Pte Ltd unveils the Smart Contract 2.0 solutions which runs on their CSE 3.0 platform.
At the recent Singapore Fintech Festival 2018, Mr Chen Guo-ping, CTO of CSE Singapore explains that while blockchain was initially focused on the financial sector, but other sectors such as: agriculture, logistics, education, supply-chain management, healthcare, and banking are now starting to apply blockchain technology to enhance their business processes.
Picture: CSE Smart Contract 2.0 (credit: CSE SG Pte Ltd)
CSE SG has developed a proprietary CSE 3.0 technology that creates an improved Blockchain platform with breakthrough features from the application of encryption technology, blockchain foundation, blockchain pool 3.0, smart contract 2.0, artificial intelligence, internet of things, supernode cloud, etc. CSE 3.0 can be applied to the creation of retail payment at very low cost, super fast speed and even with no internet connectivity; applications in traceability of products; encrypting and management of information in medical, financial and other industries.
Smart Contract 2.0 invites experts all over the world to contribute their expertise through the Platform. It is not a major problem even if you are not a technology specialist because CSE has created thousands of templates. This has empowered people from all walks of life, including: housewives, secondary school students, or even a technology moron to create their own smart contracts.
Eliminating the middleman
The Smart Contract 2.0 system has benefitted from the decentralized feature of Blockchain. Users can easily develop a suite of applications across various industries, without the need to spend 5 years learning about Blockchain, and peer-to-peer networks can self execute the contract, where contractual incentives or penalties can be enforced without third-party involvement. In short, Smart Contract 2.0 is as good as your reliable legal advisor who works tirelessly 24 hours everyday.
Not all contracts are 100% applicable. The Smart Contract 2.0 solutions adds the extra dimension of flexibility, allowing partial performance of a contract and receiving of the corresponding payment, where the unperformed portion will be automatically refunded.
Blockchain ensures transparency while Smart Contract allows for intelligent execution, which CSE has integrated into a virtual machine. Aside from finance, users may also instruct this virtual machine to “substitute” people in areas such as: cultivation of crops, logistics handling, timeline management, chain of custody, intelligent data management, or smart city management, etc.
This is open source platform so users may integrate their solutions in two ways, by API or by embedding codes into any applications such as Web, App, software, as well as hardware, especially the IoT equipment, NFC, etc.
Source: CSE SG Pte Ltd