Developing smart contracts or cryptocurrency via blockchain

Your own platform

Are you, or the organization you work for, interested in developing your own platform for recording transactions?

Alternatively – a platform to raise capital through a so-called ‘Initial Coin Offering’? Then we will explain how to do so.

Blockchain is not a currency – it is a concept

Blockchain is a concept for recording transactions, where the settlement of the transaction is distributed in a network. Blockchain is an alternative to registration, currency, voice control systems, or other solutions to problems needing to ensure that a credible and correct transaction has been made.

When deeds are registered in Denmark, it is done to ensure that all parties agree on, and are aware of, who owns the land. This is saved centrally with the State due to the importance of the correctness of the transaction (the registration).

The State becomes obsolete

With blockchain, you no longer need old-fashioned registration, as the State is no longer necessary for creating security or trust. The security lies in the settled transaction being distributed to all participants on the network. If deeds were registered using blockchain, all who had a deed would receive a copy of all the deeds and who owns them.

When all can confirm the correctness of the transaction by simply consulting one’s own (and the other’s) archive, it is no longer necessary for a third party to determine if the transaction is correct.

Why cryptocurrency? Why bitcoin?

Bitcoin is the first real and relevant implementation of the thinking behind blockchain. With bitcoin, a currency has been developed in which the correctness and credibility are not determined by the State – but by the joined network.

As such, all transactions are saved in a blockchain for bitcoin. This is then distributed openly so that the money can always be tracked and to ensure that there are no disagreements as to which transactions have been settled.