Contracts are a fundamental element of any human relationship. Contracts could be as simple as money and as fundamental as conversation between people. everything is a contract. For example, think of a basic store purchase, which is a contract between two parties - where a certain quantity of goods or services are supplied by the seller to the buyer at a defined price. As these goods or service are shipped or performed, the seller receive money from the buyer and send transfer a receipt to the receiving party. The seller may need to manage a collections process such as a monthly invoicing the buyer. These processes are the execution of a contract, and usually requires a significant human effort.
A smart contract is a computer program which is aimed to automate the execution of this contract.
Facio smart contracts
Facio Smart Contracts are big data objects, capable of containing large amounts of information, from various types and sources in one place to produce 360º of the contract. The Smart Contracts contains Artificial Intelligence elements designed to autonomies sales, underwriting, service, reporting, and document legally relevant events and actions in accordance with the terms of the contract, between the issuer, the holders, and the entire ecosystem.
creating the future
We are creating the future of financial services: Inventing Smart Contract technologies that will make financial services universally accessible and trustworthy, expand our abilities, our community, and our world.