A Look into Hybrid Smart Contracts; What are Their Uses?

Smart contracts were introduced in 2015 with the introduction of the Ethereum network. Their role was to digitize and tokenize financial and non-financial services like payments, trading, etc. Through the use of smart contracts, the process of signing contracts is highly simplified, only following the blockchain.  Primarily, smart contracts are not bound by a particular jurisdiction; therefore, they can operate on a global level.    However, one problem associated with making smart contracts is that they cannot access off-chain data. Instead,…