What is a smart contract and list some of its applications?
Smart contracts are self-executing contracts which contain the terms and conditions of an agreement between the peers
Some of the applications are:
Transportations: Shipment of goods can be easily tracked using smart contracts
Protecting copyrighted content: Smart contracts can protect ownership rights such as music or books
Insurance: Smart contracts can identify false claims and prevent forgeries
Employment contract: Smart contracts can be helpful to facilitate wage payments