Altcoins Talks - Cryptocurrency Forum
Further Discussions => Banks & Cryptos => Topic started by: Riya143 on July 13, 2020, 05:41:37 PM
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In a July 8 blog post summarizing a recent report called "Smart Contract Technology and Financial Inclusion" the international financial institution looked at the role smart contracts could play in improving financial services in poorer nations.
Smart contracts are pieces of code that automatically execute the terms of a contract based on a specific set of rules.
The World Bank looked at two main areas of financial services including index-linked insurance and short-term unsecured loans.
On the insurance side, the institution looked at penetration, or the ratio of policy premiums underwritten over a 12-month period against the gross domestic product (GDP) of a given nation.
Read More: https://www.coindesk.com/world-bank-investigates-smart-contracts-as-financial-tools-with-mixed-results