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A smart contract is a computer program

11.03.2021

George Georgiev

Smart contracts are potentially one of the most useful tools associated with blockchain, and they can enable the transfer of everything from bitcoin and fiat currency to goods transported around the world. Here’s what they do and why they’re likely to gain traction.

Smart contracts are self-executing, business automation applications that run on a decentralized network such as blockchain.

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For example, an insurance company could use smart contracts to automate the release of claim money based on events such as large-scale floods

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