New Blockchain Startup Brings Contracts into the Digital Age

One of the most notable features of blockchain-based technology is the ability to provide substantial public proof of information.
Now a startup called SmartContract is harnessing this aspect of the technology to create contractual agreements that can be used by both experts and newcomers alike.
SmartContract CEO Sergey Nazarov told CoinDesk:
‘We want to be the secure web layer that gives people access to infrastructure that they can use to create valuable trust.’
These trust-based agreements can utilize the ever-growing amounts of available data on the web – such as currency prices, web search figures or even GPS signals – as a burden of proof, which has helped SmartContract to launch its first three products.
Nazarov and his SmartContracts team have been working on trustless systems for some time, having launched something called Secure Asset Exchange built off of the peer-to-peer cryptocurrency exchange NXT last year.
‘We have been thinking about smart contracts since the beginning of this year,’ said Nazarov, who added that a four-person team was assembled to develop the SmartContract platform over the summer.
The SmartContracts effort is being backed by Data Collective, an investment group based in San Francisco. Data Collective has invested in other financial technology companies such as Standard Treasury and TradeBlock.

This post was published at Coin Desk on December 10, 2014.