Feb 22

Singapore Startup CSE SG Unveils The New Generation Smart Contract 2.0 – Featuring Multi-Contractual Conditions And Multi-Industry Applications

By CSE30 | New

Over the past 10 years, the blockchain technology featuring decentralization, immutability, security, and transparency has revolutionalized the digital age in the same scale as internet. The first generation blockchain under Bitcoin was created as a medium of payment transaction and digital store of value, while the second generation blockchain under Ethereum was developed as a platform that facilitates peer-to-peer smart contracts.

However, Bitcoin and Ethereum have inherent weaknesses that limit their ability for effective scaling up and meeting users’ needs due to factors such as: slow processing speed, energy costs, high transaction fees, etc.

What is Smart Contract?

The term “smart contract” was coined by a cryptologist computer scientist, Nick Szabo, who famously said in 1994 that “a smart contract is a computerized transaction protocol that (self) executes the terms of a contract. The general objectives are to satisfy common contractual conditions.”.

A smart contract is a computer software that contains rules, terms and regulations of a contract. The smart contract is self-executing, self-verifying and auto-enforcing against the agreed upon terms. It is immutable, decentralized, as well as cost saving because it eliminates the need for third parties or escrow agents.

In 2015, Ethereum introduced the Smart Contract 1.0, and has leveraged its strength in dealing with various types of financial contracts.

The New Generation Smart Contract 2.0

On 25th February 2019, Singapore-based startup CSE SG officially unveils the new generation Smart Contract 2.0 – featuring multi-contractual conditions and multi-industry applications running under the revolutionary, super-fast blockchain 3.0 technology.

Diagram 1: creation and consensus of a smart contract

The new generation Smart Contract 2.0 has been applied to the field of finance globally, enabling ICOs, STOs and payment transactions for e-commerce.

CSE SG has partnered with healthcare service providers in Thailand and Korea to apply Smart Contract 2.0 solutions to improve efficiency, traceability, transparency and security.

In the agriculture sector, Smart Contract 2.0 has also been successfully applied to various projects in Vietnam, Tanzania and Nigeria, that literally “brings food from farm to table” – thus eliminating the middlemen, and helping to ensure food security, proximity, self-reliance, and sustainability of food supply.
There is great potential for the new Smart Contract 2.0 platform as it only takes 15 to 30 minutes to create your own smart contract , which is directly connected to the CSE blockchain 3.0 technology through the API. You can create your crypto, access source, blockchain library, blockchain authentication for various industries such as healthcare, education, agriculture, retail, supply-chain management, energy, banking, etc.

 

Diagram 2: Smart contract flowchart for an agriculture application (example)

The floodgates of unparalleled innovation in business and everyday life applications have been opened with the launch of Smart Contract 2.0 by CSE SG.

About CSE SG

 

CSE SG is a company established in Singapore. Its has developed a proprietary CSE 3.0 technology that creates an improved Blockchain platform with breakthrough features from the application of encryption technology, blockchain foundation, blockchain pool 3.0, smart contract 2.0, artificial intelligence, internet of things, supernode cloud, etc. CSE 3.0 can be applied to the creation of retail payment at very low cost, super fast speed and even with no internet connectivity; applications in traceability of products; encrypting and management of information in healthcare, agriculture, education, supply-chain management, banking, and other industries.

Source: CSE SG Pte Ltd

Nov 24

What Is Smart Contract 2.0?

By CSE30 | Smart Contract 2.0

HUGE MISCONCEPTION THAT BLOCKCHAIN IS CRYPTOCURRENCY

Open source:

The CSE Smart Contract 2.0 is a powerful tool built on the Blockchain 3.0 platform. It was developed by CSE, a technology startup based in Singapore. The key objective of CSE is to apply Blockchain technology into daily life and across various industries in a user-friendly interface.

HUGE MISCONCEPTION THAT BLOCKCHAIN IS CRYPTOCURRENCY

HUGE MISCONCEPTION THAT BLOCKCHAIN IS CRYPTOCURRENCY

Smart Contract 2.0 invites experts all over the world to contribute their expertise through the Platform. It is not a major problem even if you are not a technology specialist because CSE has created thousands of templates. This has empowered people from all walks of life, including: housewives, secondary school students, or even a technology moron to create their own smart contracts.

Eliminating the middlem​an:

The Smart Contract 2.0 system has benefitted from the decentralized feature of Blockchain. Users can easily develop a suite of applications across various industries, without the need to spend 5 years learning about Blockchain, and peer-to-peer networks can self execute the contract, where contractual incentives or penalties can be enforced without third-party involvement. In short, Smart Contract 2.0 is as good as your reliable legal advisor who works tirelessly 24 hours everyday.

Flexibility:

Not all contracts are 100% applicable. The Smart Contract 2.0 solutions adds the extra dimension of flexibility, allowing partial performance of a contract and receiving of the corresponding payment, where the unperformed portion will be automatically refunded.

Multi-sector applications:

Blockchain ensures transparency while Smart Contract allows for intelligent execution, which CSE has integrated into a virtual machine. Aside from finance, users may also instruct this virtual machine to “substitute” people in areas such as: cultivation of crops, logistics handling, timeline management, chain of custody, intelligent data management, or smart city management, etc.

This is open source platform so users may integrate their solutions in two ways, by API or by embedding codes into any applications such as Web, App, software, as well as hardware, especially the IoT equipment, NFC, etc.

How long to create a Smart Contract in 2.0 platform?

If you create the smart contract using a template, it will require only 3 minutes and over 4 steps. And if you create a unique smart contract, then it may require between 4 to 12 hours.

Stay tuned. In the next article we will share more details on smart contract applications for various industries.

Nov 24

Huge Misconception That Blockchain Is Cryptocurrency

By CSE30 | CSE30

Fintech festival 2018 singapore

Huge Misconception That Blockchain is cryptocurency

HUGE MISCONCEPTION THAT BLOCKCHAIN IS CRYPTOCURRENCY

HUGE MISCONCEPTION THAT BLOCKCHAIN IS CRYPTOCURRENCY

Blockchain is not a master key nor a magic wand. Amazingly, many people have  isunderstood that Bitcoin is Blockchain.

The power of Blockchain technology is deeply set in the financial fields, and it has threatened the power base of financial institutions. Notwithstanding that, the recent devaluation of BTC and ETH has also illuminated the challenges in applying Blockchain beyond the financial fields.

During the recent Singapore Fintech Festival which was held from 12th-16th November 2018, experts from Switzerland, USA and Singapore shared their views on Blockchain. Mr Adrian Burgi, an Attorney from Switzerland and Specialist in the Banking Industry in Switzerland; Mr Leo Lu, SRI Board Advisory Member in R&D and Business Development Advisor of CSE USA; and Mr Chen Guo-ping, CTO of CSE Singapore, had an in-depth discussion about various solutions to bring Blockchain into everyday life during the event.

Has Smart Contract 2.0 disrupted the market?

The CSE Smart Contract 2.0 is a powerful tool built on the Blockchain 3.0 platform. It was developed by CSE, a technology startup based in Singapore. The key objective of CSE is to apply Blockchain technology into daily life and across various industries in a user-friendly interface.

Open source:

Smart Contract 2.0 invites experts all over the world to contribute their expertise through the Platform. It is not a major problem even if you are not a technology specialist because CSE has created thousands of templates. This has empowered people from all walks of life, including: housewives, secondary school students, or even a technology moron to create their own smart contracts.

Eliminating the middlem​an:

The Smart Contract 2.0 system has benefitted from the decentralized feature of Blockchain. Users can easily develop a suite of applications across various industries, without the need to spend 5 years learning about Blockchain, and peer-to-peer networks can self execute the contract, where contractual incentives or penalties can be enforced without third-party involvement. In short, Smart Contract 2.0 is as good as your reliable legal advisor who works tirelessly 24 hours everyday.

Flexibility:

Not all contracts are 100% applicable. The Smart Contract 2.0 solutions adds the extra dimension of flexibility, allowing partial performance of a contract and receiving of the corresponding payment, where the unperformed portion will be automatically refunded.

Multi-sector applications:

Blockchain ensures transparency while Smart Contract allows for intelligent execution, which CSE has integrated into a virtual machine. Aside from finance, users may also instruct this virtual machine to “substitute” people in areas such as: cultivation of crops, logistics handling, timeline management, chain of custody, intelligent data management, or smart city management, etc.

This is open source platform so users may integrate their solutions in two ways, by API or by embedding codes into any applications such as Web, App, software, as well as hardware, especially the IoT equipment, NFC, etc.

How long to create a Smart Contract in 2.0 platform?

If you create the smart contract using a template, it will require only 3 minutes and over 4 steps. And if you create a unique smart contract, then it may require between 4 to 12 hours.

Stay tuned. In the next article we will share more details on smart contract applications for various industries.