I was reading about the smart contract and I'm able to create the smart contract but I didn't know why the smart contract is used? When I did search on google about this, I understood following -
New language 'solidity' used for creating the smart contract.
A smart contract is secure and can't be updated after deploying.
A smart contract is nothing but a set of functions which automates the process.
After deploying it into the blockchain network, will get the address of that contract. By importing this address, we can able to access its methods.
A smart contract doesn't store the data, We need to create the logic accordingly to store the data in DB.
But wait, we can achieve above same points using the set of programs called 'packages'. Why not we use the following -
Create one package which has all set of functions. (the same we've written in the smart contract using solidity)
We can make this package as private. (Only some organization have access to this)
We can add the extra security layer so that malicious user does not have the access to that code.
lastly, my main concern is why the smart contract is used? despite we can implement the same logic using the package (as described above)