Smart contract in blockchain

What is smart contract?

Smart  contract is a computer program used in blockchain technology.  If the conditions are satisfied the smart contract contract execute automatically.

Smart contract benifits:

Saves money and resources 

No intermediaries 

Resistance to failure 

Fraud identification and reduction 

Trust enhancement 

Record keeping 

Security 

Some of the uses of smart contract:

Supply chain management

supply chain automation with Reduced frauds, visibility and transparency. 

Trading

trades without intermediaries 

Finance

cross border payment and international trade

Insurance

In insurance smart contract automated claim and verify the proof.

Real estate- clear title lands and buildings and no middleman