Why are Modern Businesses Investing in IoT Driven Smart Contracts?

A smart contract could be defined as a computer protocol that is designed to facilitate, verify, or enforce the performance or negotiation of a contract on a digital basis. Without the requirement of any third party, smart contracts enable the performance of credible transactions, fluently. The traditional methods of trading had several flaws in them because there was nothing to trace a flaw in the first place. With the availability of superior solutions, driven by the Internet of Things, trading methods have become revolutionary and systematized. The next step is the compilation with the conditions mentioned in the smart contract. This ensures a justified execution of smart trade contracts, like an electronic Bill of Lading(BoL).