Smart contracts: The key to a fairer and more sustainable digital economy

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Smart contracts are digital agreements that are automatically executed when pre-established conditions are met. These contracts are based on blockchain technology, which is a decentralized and secure network that records and verifies all transactions carried out on it.

Smart contracts have the potential to transform the way we do business, exchange goods,  services and manage resources. Some of the advantages they offer are:


  • Security: Smart contracts are stored on the blockchain, making them immutable and resistant to manipulation, fraud or censorship. Furthermore, by not depending on intermediaries, the risk of non-compliance or corruption is reduced.
  • Transparency: Smart contracts are visible to all parties involved and to anyone who has access to the blockchain. This facilitates the monitoring and verification of operations, as well as the resolution of possible conflicts or disputes.
  • Efficiency: Smart contracts are executed automatically and without delays, saving time and money for the parties. Additionally, by eliminating the need for intermediaries, costs and commissions associated with traditional processes are reduced.
  • Sustainability: Smart contracts can contribute to a fairer and more sustainable digital economy, by promoting financial inclusion, the democratization of access to resources, the energy transition and environmental protection.
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Different uses of smart contracts in society

Smart contracts not only have theoretical advantages, but also have practical applications in various sectors and areas of society. Below we will look at some examples of how smart contracts can improve the way we carry out different economic and social activities, and how they can contribute to more fair and sustainable development.

Some examples of smart contracts are:

  • Finance: Smart contracts can facilitate access to credit, remittances, international payments, investments, insurance and other financial services, faster, cheaper and more secure.
  • Trade: Smart contracts can improve e-commerce, fair trade, local trade and international trade, by ensuring traceability, quality and delivery of products and services.
  • Energy: Smart contracts can boost the development of renewable energy by enabling Peer-to-Peer exchange of energy between producers and consumers, as well as consumption control and demand management.

Environment: Smart contracts can help preserve the environment by encouraging recycling, reuse, emissions reduction and the efficient use of natural resources.


In conclusion, smart contracts are a powerful tool to create a fairer and more sustainable digital economy, benefiting both people and the planet. However, to take advantage of its full potential, it is necessary to overcome some technical, legal and social challenges that still exist. Therefore, it is important to promote education, innovation and collaboration between all actors involved in this area.

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A smart contract is a digital agreement that is automatically executed when pre-established conditions are met.

Smart contracts have advantages such as security, transparency, efficiency and sustainability.

Smart contracts use blockchain technology, which is a decentralized and secure network that records and verifies all transactions made on it.

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