Automating Contracts and Implementation of Financial Products with Bitcoin Technology
Smart Contract enables automation of contracts and implementation of financial products using blockchain technology. It makes difficult to manipulate the terms of the contract and achieves a high level of security. At DG Lab, we have developed the first smart contract system in Japan using Bitcoin-based blockchain on Elements, a basic technology developed by Blockstream. In this system, we will work with financial institutions to improve the efficiency of the loan business for individuals. By using Bitcoin-based blockchain technology, we verify the usefulness of the banking system, which requires the most stringent security and stability requirements. In the future, DG Lab will substantially streamline its various contract-related operations within the bank.