What Is a Smart Contract?

A smart contract digitally enforces, facilitates or verifies the terms of an agreement using cryptographic code. The most interesting aspect of smart contracts is they’re self-executing, automatically enforcing contractual duties. This enables agreements between anonymous parties without third parties, such as lawyers, a legal system or any central authority. 
Transactions resulting from blockchain-based smart contracts are trackable, transparent and irreversible.

Click here to watch our brief video from the European Investment Bank Blockchain Challenge, where we presented a solution for the European Investment Bank financial instrument using Quorum blockchain.