Simon Griffee

What is a Smart Contract? ➶

13 October 2015

James Carlyle:

There are many definitions for smart contracts: my favorite (from recollection, Richard Brown) is

A smart contract is one where the control of assets is managed by a computer

  1. Smart contracts are executable business logic and data, written in a computer language
  2. Smart contracts can run on a public block-chain / distributed ledger that is de-centralised
  3. The block chain is secure.