What is Smart Contract?
Smart Contract A self-executing, code-based contract deployed on a blockchain that automatically enforces and executes agreed rules and transactions when predetermined conditions are met. Used in DeFi, custody, settlement, and asset management for trustless automation and compliance.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Smart Contract” Used in Practice?
Crypto portfolio custodians use smart contracts to automate settlement, staking, and asset transfers without manual intervention or counterparty risk.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Smart Contract?
A self-executing, code-based contract deployed on a blockchain that automatically enforces and executes agreed rules and transactions when predetermined conditions are met. Used in DeFi, custody, settlement, and asset management for trustless automation and compliance.
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Termify is a 100% free professional English app that teaches Smart Contract and 4,071+ other industry terms with native pronunciation, IPA transcriptions and career quizzes. Available on iOS in 23 languages. No subscription, no credit card required.
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