I don’t know what a “smart contract” is. The word, contract, reminds me of a scene from the movie, The Founder. In the movie Michael Keaton plays Ray Kroc, the so-called founder of McDonalds. In one scene late in the movie, Ray Kroc is confronted by the McDonald brothers (the real founders of McDonalds) because Kroc reneged on his contract with them. Very calmly Kroc replied, “Contracts are made to be broken.” The McDonald brothers could have taken him to court but they didn’t have the money for lawyers.

I’m hoping that a “smart contract” is something more enforceable than this. I look forward to reading your definition of “smart contract.”