Smart Contracts are a tangible expression of the term '
Code is
Law'. By coding prerequisite conditions into an algorithmic contract, one can essentially create a self-executing contract, eliminating the need for a middleman and automating the process of trust.
It is a common feature of blockchain and
cryptocurrency protocols.
I tried to scam a customer for his
money before the
GPS logistics
system verified delivery of the goods, but the pesky smart contract prevented me from touching their funds!