Block Chain - Smart Contracts

Smart contracts are self-executing programs stored on the blockchain that run when predefined conditions are met.

They eliminate the need for intermediaries such as lawyers or brokers.

For example, in an insurance system, a smart contract can automatically release payment when conditions are satisfied.

Smart contracts are written using programming languages and deployed on blockchain platforms.

Once deployed, they cannot be altered, ensuring trust and transparency.

They reduce operational costs and increase efficiency by automating processes.

Smart contracts are widely used in finance, supply chain management, real estate, and digital agreements.