Smart contract for the masses

Written by Mark Evans

The Smart Startup Company wants to harness the transparency and security of blockchain to enable SMRT (Smart Startup Token) contracts. The aim is to create a frictionless trade platform for startups and SMEs.

SMRT has been described as a “vending machine for legal documents” that are then secured in the blockchain. The need to create contracts can be extremely onerous for start-ups, in terms of both money and time and blockchain offers the opportunity to make enforcement cheaper and easier.

Founder Simon Krystman explains: “Established trading market places could benefit enormously from our smart contracts, as buyers and sellers will have automatically enforced agreements to transfer money for goods and services. They also open the way for many new decentralised marketplaces, where the smart contracts are the enforcements of trade. Small businesses would be able to buy bundles of our smart contract templates to facilitate their sell/buy trades.”

SMRT’s strategy is to build a prototype of the platform from the Pre-ICO funds. This will explain the technology and process for the SMRT platform and the associated smart contracts. It will also show how the SMRT token can be used.