Marketing Scoops: Bitcoin Smart Contracts: What Are They and How Do They Work? | Online Marketing Tools | Scoop.it
From marketingscooops.blogspot.com - December 13, 2023 8:36 AM

Nick Szabo defines smart contracts as “a set of promises, specified in digital form, including protocols within which the parties perform on these promises.” In a 1996 paper Szabo argued that smart contracts have the potential to revolutionize digital markets by making it possible to automate the execution of contracts and reduce the need for trust between parties.