Ties.Network is a decentralized, blockchain based business oriented social network platform. It empowers organizations and individuals to strike deals through the use of smart contracts. Smart contracts are self-validating and self-executing agreements that function independently. They are constantly checked by the blockchain to ensure terms of the contract are met.

In the context of blockchain and cryptocurrencies, smart contracts are computer programs which are stored on a distributed platform and are run by a network of computers that result in updates to ledgers such as cryptocurrency payments. In essence each smart contract is a program that performs an action based on other actions and are verified by computers in the network. They reduce the need for intermediaries. Smart contracts, executed through the blockchain can verify and maintain escrow accounts and reduce the role of the legal system in contract administration. Additionally, smart contracts facilitate, indeed play a crucial role, in allowing firms to outsource activities that can be performed more effectively or economically outside of the traditional business structure.

How Ties.Network uses smart contracts to help individuals and companies in outsourcing.

As global business expands, smart contracts can operate without intermediaries or third party validation. This is particularly useful as terms and conditions can be made very specific. In general, any contractual situation that can be restated as computer logic (utilizing if-then logic) can be the subject of a smart contract. In the context of Ties. Network, smart contracts can be used for HR and project management including:

Starting projects. Individuals in different locations and countries can collaborate on ideas to develop projects.

Companies can post job listings to aid in recruiting employees.

Businesses and individuals can take advantage of crowdfunding to fund projects from a variety of sources, reducing the need for traditional financial institutions.

Employees, experts and freelancers can be recruited from a vast pool of international talent.

Potential employees can post their CV’s, examples of work and reviews from previous employers.

Freelancers can take advantage of Ties.Network to maintain anonymity but preserve ratings.

The networking platform of Ties.Network allows individuals to establish contacts as either employees or employers.

Crowdsourcing allows ratings of businesses, individuals and projects.

The smart contract capability of Ties.Network allows individuals to exchange goods and services within clearly defined terms. This aids IT experts, programmers, photographers, musicians, and other employees needed to help implement projects or further business goals.This also provides anonymity when needed, for example people who are exploring new opportunities and positions. Smart contracts within Ties.Network can consolidate international transfers of goods and services through approved credit and trade payment agreements. Contracts remove duplicate processes executed by the parties to verify each step. This monitors completeness and reduces errors. Ties.Network will offer the services of expert mediators to handle disputes between parties. Smart contracts are set to revolutionize the business world. Read more about what Ties.Network can do for you.

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