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Mit Technology Review

Say, for instance, a possible tenant wish to lease an house using a wise contract. The landlord agrees to provide the tenant the door code to the house as soon because the tenant pays the security deposit. Both the tenant and the landlord would ship their respective portions of the deal to the smart contract, which would maintain onto and mechanically trade the door code for the security deposit on the date the lease begins. If the owner doesn’t provide the door code by the lease date, the sensible contract refunds the safety deposit. This would remove the charges and processes usually associated with the usage of a notary, third-celebration mediator, or attornies.

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