What Are Smart Contracts? Cryptocurrency’s Killer App

What if you could cut your mortgage rate, make it easier to update your will, and ensure that your buddy was never able to weasel out of paying up on a bet? That and much more is the promise of smart contracts, a technology that is getting closer and closer to reality thanks to cryptocurrency.

Smart contracts are computer programs that can automatically execute the terms of a contract. Someday, these programs may replace lawyers and banks for handling certain common financial transactions.

Source: What Are Smart Contracts? Cryptocurrency’s Killer App