Smart Contracts on Blockchain- Defining trust in a new digital era

Home > Blog > Smart Contracts on Blockchain- Defining trust in a new digital era
Twitter icon
Facebook icon
LinkedIn icon

Smart Contracts on Blockchain- Defining trust in a new digital era

Smart Contracts are computer programs that can be executed on a decentralized network of computers. A decentralized network means that many computers in a network work together to complete program function executions. Instead of using your own computer to get computations completed, you use crypto currencies to power other computers on the network to get things done. We are just beginning to discover use cases for this, which range from better storing encrypted data online and doing financial transactions.

The Ethereum network is currently the largest platform for creating and deploying Smart Contracts. A smart contract in Ethereum is programmed and added at a certain address on the Ethereum network. This means that the code for that contract can be public, as it is stored on the public blockchain. Blockchain refers to a digital ledger which stores a record of public transactions in blocks, such as Ethereum or other similar crypto technologies. The code is transparent and cuts out the middle man in many use cases, making it lucrative for organizations and business.

Some great use cases include insurance companies, IOT (internet of things) and copyrighted content, as seen in this great post. Another great use is decentralized voting, which entirely eliminates government corruption in voting in the simple execution of a smart contract program. One organization making big strides in this is Democracy.Earth. Smart Contracts written in the Solidity programming language are generally wrapped in a Website presentation and are referred to as "Dapps" (Decentralized Apps). With a Dapp you can essentially become your own bank. There are many Dapps that exist today at State of the Dapps for all different things such as e-sports, gambling, lottery, voting, and the list goes on.

Looking to crowdfund or offer a coin to your business' customers? ERC20 Tokens are smart contract tokens existing on Ethereum which can be viewed as their own currencies within the crypto network. Companies such as OmiseGo and TenX have raised huge sums of crypto currency by selling their own tokens built on the network. If the token surrounds a business model with a revenue stream, odds are that your ERC20 tokens can increase in value based on the market. Taking a company "public" in the crypto world can be compared to a company's initial public offering in the stock market- but instead it is called an Initial Coin Offering (ICO).

Why are Smart Contracts Trustworthy?

Everyday, we put our trust in the governments we vote for and the banks that store our money. We trust in insurance companies to take care of us if something goes wrong. The problem with these systems today is that they are directly in the control of political and organizational leaders, who are human just like us. This opens the door to corruption and foul play in these industries, as they can be manipulated from within. A smart contract on the other hand, is transparent and public, the very nature of it is that it cannot be manipulated. Once a smart contract has been engaged to complete a transaction, it will complete exactly how it was coded to and no parties can interfere or change the result of it once it has been executed. This means we can trust Smart Contracts even when we cannot trust our fellow citizens.

Our clients

Testimonials

Marci Broderick

Web Marketing Specialist
www.apexlearning.com

I work primarily with Eduard. He is awesome! I know I can rely on him, he is fast and very good.

Nicole Pecaro

Creative Manager for Captivate
www.captivate.com

CodeBru is extremely reliable. I am able to sleep at night knowing the websites we created are in good hands!

Jesse Johnson

Marketing Specialist for Meeting Tomorrow
www.meetingtomorrow.com

Codebru always impresses me with how quickly they respond to our coding and web design requests. I honestly have no clue how they work so fast!

OUR PROCESS

Research & Discovery

Every project we undertake is unique. To offer the best possible solutions for our valued clients, we take the time to discuss their goals and expectations of their project. After this consultation, we assess their existing web presence to map out a plan of action to meet - or exceed - these goals!

UX Strategy & Design

Using the findings from our Project Assessment, our team of designers and developers collaborate to create a customized end product. Our team upholds the highest standards throughout the entire Implementation and Deployment process and optimizes your digital asset for success!

Engineering

Our team of developers and designers are savvy and versed in multiple platforms and programming language. If you’re able to dream it, we’re able to build it! Our custom solutions are built to suit, using the platform that is best suited for our clients specific needs.

The Team

Zach Caudill

Founder

Zach has been working in the web industry since 2004. He has worked full-time for large companies, startups, small businesses and as a contractor for other web agencies Zach founded CodeBru in 2014 as a collective of skilled web developers to help grow his coding business. Now offering full-service solutions, Zach leads development efforts and oversees operations.

Sara Jones

Account Support

Sara joined CodeBru in 2015 to provide full service account support and management for our clients. She is the liaison between you and the rest of the team. With superb communication and organizational skills, Sara makes sure everyone is on the same page at all times and maintains lasting relationships.

Ron Sarache

Designer

Ron has been working with Codebru since 2016 providing full time graphic design service. Bringing creativity and imagination to the team, Ron loves design challenges and creating new things that amazes the clients. He can design almost anything your imagination comes up with and would love to put your project into a real image.

Victor Wiebe

Software Engineer

Victor is a software engineer with extensive app creation and deployment experience. These have accumulated tens of thousands of downloads per week. He is an educated Computer Engineer from the University of Calgary, Canada, and hopes to soon become a Certified Scrum Master.

Eduard Faber

System Engineer

Eduard received his Bachelor of Standardization, Metrology and Certification in 2005, but started learning PHP and site development when was 16. He specializes in hosting and network security and is responsible for database, API and server build.

Xion Guerrero

Design Support

Xionary is the latest addition to the design team. She assists and supports the design team in all communicative tasks. She is the link between the client's idea and the product that the designer delivers. Organization is her motto.

From The Blog

At Codebru, our dedicated team of digital experts celebrates a remote working culture. We would...
Smart Contracts are computer programs that can be executed on a decentralized network of computers...
The next disrupting technology in the online world is the use of artificial intelligence “bots” to...