| dc.description.abstract | Blockchain is a decentralized ledger technology ( DLT ). It uses cryptography algorithms and consensus mechanism to achieve a same record of the ledger for everyone and maintains decentralized transactions. The record is not tampered by each node. Even if the hacker wants to attack the record, he has to tamper record with more than 51% of the ledgers before it is accepted by nodes. Otherwise, the attack will not work. The blockchain also perform value transfer on network and without double spending.
Smart contracts have the characteristics of ＂resolving real contracts problem＂ and ＂no intermediaries executing contracts＂. Buyers and sellers only input their own conditions, and the program can automatically fulfill the contract and complete the transaction. Besides, the transaction is recorded in the blockchain, so that both parties cannot modify it and the hacker also cannot tamper with it. And smart contracts are billed depends on consuming behavior, and the amount can be as small as several digits below the decimal point. Thus, the profits is increased for industry because consumers don’t care about small bill then spend more.
Taiwan′s industry should face up to the technology of blockchain. Especially the development of smart contracts is still in its infancy, it is necessary to cultivate talents for software development, and combine the advantages of hardware development with itself, and become an enterprise that is beneficial to nations. In my humble opinion, the Internet of Things (IoT) hardware and smart contract software are the directions that can be given priority, and then deepen the development of software and improve their ability. | en_US |