What is a smart contract?

What is a smart contract? When we talk about smart contracts, we are generally referring to computer programs that guarantee the enforcement of an agreement between two or more parties. Initially, the concept was used to designate formal descriptions lacking semantic ambiguity that could act as guarantor of an agreement without the need for a third party.

The term “smart contract” has been generalized and is commonly used to describe all types of programs whose logic can be executed in a system with blockchain technology.

In other words, we tend to call smart contracts small programs with diverse tasks that share the fact that they “live on the blockchain” and whose correct execution is guaranteed by the nature of this type of technology.

Blockchain technology adds another layer of security to our digital signature and e-invoicing services. You can quickly and easily verify, audit and monitor document life cycles.

More information on what is a smart contract in this video.

what is a smart contract