Tom Burton explains how invoices could work as smart contracts on the blockchain. Recording what was bought, quantities, and payment terms on-chain would lock in the deal and prevent either party from changing the price or terms later.
An invoice has, here's what you bought, here's how many you're going to get, here's your payment terms, right? That's a smart contract, or it's a contract, right? Now, if that invoice is recorded as a smart contract on the blockchain. Now, a lot of those trans. Everything that can happen, the transactions, the money movement, all of those things could be facilitated in theory, by that data is on the blockchain. And that data can't be messed with. So somebody can't go in and say, oh, no, I'm going to change the payment terms, or I'm going to change the price, or I'm going to change all of that. An invoice is a great example of. It is a contract between two entities.
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