Smart contracts are tiny applications that run on a blockchain. The biggest smart contract platform is Ethereum.
These contracts allow you to lock up your funds and release them when certain conditions are met. With this technique we can implement many banking products without the need of central authority. Things like automatic payments and investment products could be handles by smart contracts.
Hertig, A. (2017). How Do Ethereum Smart Contracts Work? Coindesk. https://www.coindesk.com/information/ethereum-smart-contracts-work/
K, L. (2017). What is Blockchain and Smart Contracts? Brief introduction. https://medium.com/startup-grind/gentle-intro-to-blockchain-and-smart-contracts-part-1-3328afca62ab
Rosic, A. (2017). Smart Contracts: The Blockchain Technology That Will Replace Lawyers. Blockgeeks. https://www.coindesk.com/information/ethereum-smart-contracts-work/
Solidity. (2017). Stiftung Ethereum. http://solidity.readthedocs.io/en/latest/
Szabo, N. (1997). Formalizing and Securing Relationships on Public Networks. First Monday, 2(9). https://doi.org/10.5210/fm.v2i9.548
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