What smart contracts on blockchain can do is streamline this complex process that involves several intermediaries because of a lack of trust among participants in the transaction. With your identity stored on a blockchain, lenders can quickly make a decision about credit. The major blockchains support smart contracts, except Bitcoin. Hence Correct Answer is i) Bitcoin
A smart contract is a self-enforcing piece of so ware that is managed by a P2P network of computers. Smart contracts are e cient rights management tools that provide a coordination and enforcement framework for agreements between network participants, without the need of traditional legal contracts. They can be used to formalize simple agreements between two parties, the bylaws of an organization, or to create tokens.
Blockchains support smart contracts with Corda, Hyperledger Fabric and Ethereum, but bitcoin is not supported
Smart contracts work by following simple “if/when…then…” statements that are written into code on a blockchain. A network of computers executes the actions (releasing funds to the appropriate parties; registering a vehicle; sending notifications; issuing a ticket) when predetermined conditions have been met and verified. The blockchain is then updated when the transaction is completed.
