What is a Smart Contract?
Digitalization continues to transform every aspect of our lives, from financial transactions to legal agreements. One of the most innovative examples of this transformation is smart contracts, which emerge as the contract model of the future. So, why is there so much talk about these digital agreements that are radically changing traditional methods ? What is a smart contract and why does it have such a big impact? Continue reading our article to learn the details about this concept blended with blockchain technology.
A smart contract can be defined as a programmable digital protocol or code . This protocol enables the terms of a contract to be fulfilled completely automatically without the need for external intervention . This system, which works thanks to blockchain technology, does not require any central authority. Thus, reliable and transparent transactions can be carried out between two parties.