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Developing smart contracts on the BSV Blockchain

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Developing smart contracts on the BSV Blockchain

smart contracts on the BSV Blockchain

In July, the BSV Blockchain Association partnered with the Elas team for the inaugural Enterprise Blockchain Conference in Brisbane, Australia. The summit featured various presentations from speakers involved with BSV blockchain and the surrounding ecosystem.

One of the first presentations was given by James Belding, Co-Founder & CEO of Tokenized, who provided an overview on developing smart contracts on the BSV blockchain. Tokenized award-winning all-in-one tokenization solution for institutions, government agencies, enterprises, and individuals.

Belding started his presentation by noting that businesses are trending away from public listing toward private equity markets. He added that contracting within these markets is poorly digitised – leading to a costly, complicated and slow process. These inefficiencies hinder capital formation, asset services and secondary market liquidity.

Tokenized aims to address this through its smart contracting platform that utilises blockchain technology to vastly improve record keeping in financial markets.

A smart contract utilises a software agent to interpret and enforce certain terms and conditions, as well as automate administrative tasks such as managing transfer requests and updating ownership registries, as well as enforcing rights and managing governance proceedings. This approach results in significant efficiency gains, and a better user experience, across the lifecycle of the contract.

Belding noted that this platform stands out as the contracts are largely human and machine-readable, offer automated contract performance, and all activity is digitally signed and mediated through the BSV blockchain.

A new paradigm in contracting and asset servicing

Belding said the ultimate goal was to use blockchain to enable a new paradigm in contracting and asset servicing.

‘In terms of value proposition, it really is about improving the user experience ‘What we are trying to do is take all of the tools that exist today – such as Word, Adobe, Excel, and Docusign – and consolidate them into a single platform where every piece of data has a single source of truth.

‘So that piece of data gets updated or changed, everything gets updated in perfect real-time. Currently, you have to manually adjust everything.’

Some of the additional benefits offered by Tokenized include:

  • A desktop and mobile app;
  • A ‘no-code’ smart contract engine;
  • The ability to have a fully legal agreement encoded into a smart contract;
  • Atomic swaps: Allowing for near-perfect P2P trades.

Belding also highlighted some of the more novel use cases for the platform outside of the more traditional business contracts, including patent licences and royalty payments.

You can read more about Tokenized and the tools that they offer through their award-winning smart contract platform here.

Ryan Brothwell

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