What Are the Barriers to Wider Adoption of Smart Contracts in Traditional Industries?

Several barriers hinder the wider adoption of smart contracts. One major issue is the complexity and technical expertise required to develop and audit secure smart contracts.

Scalability limitations and high transaction costs on some blockchains are also significant concerns. Additionally, there is a lack of legal and regulatory clarity, which creates uncertainty for businesses.

Finally, the challenge of integrating blockchain technology with existing legacy systems and the difficulty of representing complex, subjective contractual clauses in code remain substantial hurdles.