Question: You are preparing a report on blockchain and smart contract for financial services. Show, in your report, how blockchain, cryptocurrency, and smart contract can be

You are preparing a report on blockchain and smart contract for financial services. Show, in your report, how blockchain, cryptocurrency, and smart contract can be used to improve workflows in financial services. Include in the report the following:

(i)Overview: Describe the lifecycle of a smart contract from creation to destruction.

(ii)General use cases:

Examine how: (1) retail banking and (2) insurance can leverage blockchain, smart contract, and/or cryptocurrency to improve its business model.

(iii)Risks: Discuss at least two (2) key risks associated with smart contract; back your claims with example.

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