Smart Contracts – Risks & Rewards

Prajit Datta, a Blockchain Evangelist, Data Scientist, Published Book Author, and Keynote Speaker from India participate in Risk Roundup to discuss – Smart Contracts – Risks & Rewards. Smart Contract – Risks & Rewards The digital revolution of the digital global age makes possible new institutions, new models, a new approach, new ways of doing things, and a new way of authenticating things. Over the years, each component of a nation has been traditionally governed by contracts written on paper using ink and authenticated by institutions like banks and governments. However, there is a growing hope that contracts of a digital age can be better served by a technological approach of authentication that makes them smarter, more efficient, transparent, cost-effective, and reliable—and one that avoids the middleman. As seen across nations, we are witnessing the beginning of a technology-enabled “smart contracts” revolution that brings us a set of promises specified in a digital format and which includes protocols within which the participating parties need to perform on those promises. Now, since contracts are clearly the lifeblood of individuals and entities across nations: its government, industries, organizations, and academia when the practice of contract management is gradually evolving to be a technology-centric function; its impact, complex challenges, risks, and rewards need to be properly understood and evaluated. Smart Contract – Risks & Rewards As smart contracts seem to be the future of the contract management life cycle for individuals and entities across nations: its government, industries, organizations, and academia (NGIOA), it is important that we evaluate its technical/non-technical challenges before the digitization of contract management can be fully implemented to benefit everyone. Time is now to talk about smart contract security risks! For more please watch the Risk Roundup Webcast or hear the Risk Roundup Podcast About the Guest Prajit Datta specializes in the use of blockchain technology for strengthening security in different financial domains. He believes in using blockchain as a new tool to integrate different schools of thought in the field of business and technology to establish an efficient regulatory network where limitless innovation and stringent regulations can coexist. In his keynote addresses, he has extensively spoken on the scope and potential of blockchain technology, artificial intelligence, and data science. His talks have been well-received at several national and international forums. Featured by Stanford Library for his research chapter on cloud gaming, he has consistently achieved a rank under 100 in numerous data science project solutions. He has blended his entrepreneurial drive and product design skills to mentor two growing startups from India. He also has authored two books – ’26 Jumpstraps’ on entrepreneurial bootstrapping and ‘Startup to Scaleup’ on startup scaling. Running marathons and practicing yoga gives him the required strength and focus on living life to the fullest. About Risk Group Risk Group is a leading strategic security risk research and advisory organization. Copyright Risk Group LLC. All Rights Reserved Reference Episodes The Rise of Initial Coin Offering (ICOs)- Risks and Rewards Emerging Technologies Geopolitics Cashless Economy – Risks & Rewards Protecting Cryptocurrency Blockchain based Insurance Model for Managing Aging Infrastructure Risks Blockchain & Machine Learning Based Content Platform Blockchain Based Risk Transfer Blockchain Revolution – Risks & Rewards Securing the Internet of Things using Blockchain Convergence The Convergence of Blockchain and Internet of Things Blockchain Applications for Emerging Economies Blockchain based Creative Content Collaboration Applications of Blockchain Technology What Should Bankers Know About Financial Technology Blockchain based Network Security Digital Transformation of Financial Industry Will Blockchain Secure the Internet of Things The post Smart Contracts – Risks & Rewards appeared first on Risk Group.