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1—This agreement (“Agreement”) is comprised in part through this document (“Document”) and in part through a smart contract (“Smart Contract”) which will be deployed on the Ethereum network (“Blockchain”) to an address known to the Agreement’s parties. Both the Document and the Smart Contract are integral to the Agreement.

2—There are two parties (“Parties”) to this Agreement, a buyer (“Buyer”) and a seller (“Seller”). The Parties will be identified by their respective public addresses on the Ethereum network. Buyer’s address will be stored in the buyer field of the Smart Contract; Seller’s will be stored in the seller field.

3—Seller agrees to sell an item (the “Item”) to be described in the personalProperty field of the Smart Contract by either Buyer or Seller for sum of Ethereum cryptographic to be defined by the salePrice field of the Smart Contact, which will be defined when the Smart Contract is deployed on the Ethereum network and later funded to the Smart Contract by the Buyer as explained in section 5 infra.

4—The Item will be transferred by a method documented in the Smart Contract in the methodOfDelivery field and title shall pass to Buyer when this Agreement is fully performed.

5—If Seller delivers the Item and Buyer fails to set the propertyDeliveredfield of the Smart Contract as explained in section 5(8) infra within a reasonable time then the Seller may demand return of the Item.

6—(A) In the event there is a conflict between this Document and the Smart Contract, the terms of the Smart Contract will control.

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What is blockchain? What Am I missing?

The new Blockchain for Dummies has use cases describing real blockchain networks, the latest from the IBM Blockchain Platform and more.

Download Blockchain for Dummies, 2nd IBM Limited Edition

Blockchain can do for business what the internet did for communication

Every second of every day, businesses exchange value with suppliers, partners, customers and others. By value, we mean goods, services, money, data and more.

Each exchange of value is a transaction. Successful transactions need to be fast, precise and easily agreed on by parties participating in the transaction.

Blockchain for business provides a way to execute many more of these transactions — a much better way.

View our What is Blockchain infographic (378 KB)

View our What is Blockchain infographic (PDF, 378 KB)

How does blockchain work?

How does blockchain work - Icon 1

As each transaction occurs – and the parties agree to its details – it’s encoded into a block of digital data and uniquely signed or identified.

How does blockchain work - Icon 2

Each block is connected to the one before and after it — creating an irreversible, immutable chain.

How does blockchain work - Icon 3

Blocks are chained together, preventing any block from being altered or a block being inserted between two existing blocks.

What makes blockchain for business better for business?

It’s distributed

Blockchain creates a shared system of record among business network members, eliminating the need to reconcile disparate ledgers.

It’s permissioned

Each member of the network must have access privileges. Information is shared only on a need-to-know basis.

It’s immutable

Consensus is required from all members and all validated transactions are permanently recorded. Even a system administrator can’t delete a transaction.

Blockchain networks are changing how business works

Show me how

How can blockchain help you?

Four people looking at a board with sticky notes

Create new business value

Organizations must continually improve business processes and explore new opportunities.

Blockchain helps build more efficient, enterprise business models.

A man and a woman talking on a factory

Optimize ecosystems

Facilitating transactions with suppliers, partners and customers helps streamline business processes and transactions.

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Reduce risk

With blockchain, your business process network creates transactions using a distributed, permissioned, immutable ledger.

Leverage blockchain to transform your business

Show me how

Blockchain FAQ

What’s the difference between blockchain and bitcoin?

How are the IBM Blockchain Platform and Hyperledger related?

What are smart contracts?

How can blockchain impact an entire industry?

I need more detailed information. Where is it?

For a more detailed look at how a blockchain network operates and how you can use it, read the Introduction to distributed ledgers.

→ Learn more from the blockchain tutorial on developerWorks.

Explore the capabilities of the IBM Blockchain Platform – the only fully integrated enterprise-ready blockchain platform designed to help you accelerate the development, governance and operation of a multi-institution business network.

→ Register to download the IBM Blockchain Platform white paper.

Get the details on Hyperledger Fabric and discover what’s unique  about it, why it matters to business networks, and how to start using it.

→ Visit the Hyperledger page on developerWorks.

The quick-start guide for developers explains how to build a kick-starter blockchain network and start coding with the IBM Blockchain Platform Starter Plan.

→ View the quick start guide for developers.

What can we solve together?

Discover how clients use IBM Blockchain now, to transform their business.

Explore industry applications

See the latest blockchain news

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