What Is a Smart Contract?

A smart contract is a digital, code based agreement between two parties. It will deliver on the promises as long as certain criteria are met that has been coated into the contract. So for example, let's go back to a, like a real estate deal. What a smart contract will do is all that those stipulations are coated into the code on top of the block chain. And once those stipulations happen, there's no intermediary and it's a trustless system.