In the traditional financial industry, it is expensive and inefficient to process international transactions and settle contracts with overseas contractors and companies. According to data from the World Trade Organization, the international trade markets processed US$15-20 trillion in 2016 alone. During a conventional international deal, both parties are required to create an escrow account through a trusted third party service provider such as a regulated bank, and to ensure the elimination of legal conflicts that may arise due to contract obligations and complications. Both the processes of settling transactions and creating contracts between two companies require a significant amount of
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Create Anonymous Smart Contracts on the Ethereum Blockchain With Confideal
