In a growing digital economy, terms like Digital Investments, Metaverse, NFT, Blockchain, and Smart Contracts are fast gaining traction in usage and functionality. With the steady rise in demand for digital investments and online trading; the industry is racing ahead with innovative solutions aiming at expanding portfolios and securing traders' investments. The most recent in the newsrooms, Smart Contracts are proving to become a turning point in digital trading as they safeguard trader rights and investments to offer seamless security and transparency.

Smart Contracts are self-executing contracts with the terms of the agreement written between the buyer and the seller directly in lines of code. The code and the agreements contained therein exist across a distributed and decentralized blockchain network. The code controls the execution, and the transactions are traceable and irreversible. Establishing itself as a game-changer in the digital investment revolution, Smart Contracts are one of the most talked-about methods of e-documenting that are used in light of the developments in the digital economy.  Owing to the fast-paced nature of transactions in the digital space, Smart Contracts play a crucial role in timeliness as they eliminate the need for intermediaries that guarantee compliance.

Advocating the use of Smart Contracts in digital trading, Mr. Ali Hasan (CEO, Evest) said; “Trading, in general, is fraught with risks that investors may face during the trading journey. Traders thoroughly investigate the company they want to deal with and ensure credibility by learning about their licenses and the support they provide to customers. There’s a thorough check conducted on the conditions for withdrawals and deposits etc. As far as Smart Contracts are concerned, they have been in use for a long time. It was only when Bitcoin established its technology on the blockchain in 2008 that Smart Contracts gained popularity in the world of digital trading.”

He further added; “The most important features that distinguish Smart Contracts from the traditional ways of documenting are transparency and speed. We are experiencing a rise in demand for Smart Contracts from investors as well as companies. The change, however, is gradual since conventional financial transactions still exist, and it is crucial to have integrated systems that embrace these technologies to facilitate the use of Smart Contracts. The entire Blockchain needs to be aligned for Smart Contracts, and it is difficult for this system to prevail in a particular company while others still follow the traditional system. The change may be gradual, but it is here to stay and grow.”

To further leverage the Smart Contract technology, Ali pointed out the necessity to keep traders informed about the important developments in digital trading. By giving them opportunities and channels to study the markets, analyze risks, understand technology intervention and follow digital protocols; traders can avoid disappointments in trading right from the beginning. In an age where news and information transcend boundaries at lightning speed; he advises traders to be at the helm of their investment journey.

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