Distributed Ledger as the City’s Public Records Office
The distributed ledger is like the city’s public records office or registry. It maintains an up-to-date, transparent record of all property ownership, transactions, and building permits issued. Anyone can access these records to verify information, promoting transparency and trust.
Smart Contracts as Automated Traffic Systems
Smart contracts are self-executing agreements coded into the blockchain. They function like automated traffic systems—traffic lights, pedestrian crossings, and speed cameras—that operate based on predefined rules without the need for manual intervention. For example, a traffic light changes colors based on timed rules or sensor inputs, ensuring orderly traffic flow.