Computer Science
3 years ago

Blockchain smart contracts revolutionize efficiency in economic relationships, benefiting all parties.

Principal agent theory and blockchain technology: Smart contract applications
RJN Bon

Paper Summary

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The article explores how using blockchain technology and smart contracts can help solve problems caused by one party having more information than the other in business agreements. By applying the principal agent theory, the researchers show that these technologies can lead to more efficient and fair outcomes for all involved.