Blockchain technology in general, and smart contracts in particular, can “unlock the hidden values of legacy digital systems,” according to a report co-authored by representatives of the World Economic Forum and Chainlink. To understand how, look no further than India’s Crop Insurance Scheme.
In a 40-page white paper released on Wednesday, the Geneva-based organization promotes the importance of interoperability between legacy systems and distributed ledger technologies – but only for specific use cases that are suitable for blockchains.