Question: A smart contract: is a paper - based contract signed by lawyers with PhDs is program code that allows external parties to trust each other
A smart contract:
is a paperbased contract signed by lawyers with PhDs
is program code that allows external parties to trust each other and eliminates the traditional human intermediaries that have traditionally performed "trustbuilding".
is program code that uses artificial intelligence to print out contracts
still requires a lawyer's review in order to execute an agreement between two parties.
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