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Smart Contract Functionality

Type

Digital agreement

Benefits

Computational adaptability • Fraud reduction • Error minimization • Efficiency increase

Limitations

Risk of black box problem • Potential AI bias • Ethical considerations • Cybersecurity concerns

Technology used

Non-blockchain advanced AI

Possible domains

Transportation • Finance • Criminal justice

Enforcement method

Artificial intelligence

Examples of applications

Automated loan approvals • Intelligent traffic management • Sentencing algorithms in criminal justice

Smart Contract Functionality