The conversation between human and AI assistant.
How will Blockchain impact reconciliation firms like Intellimatch?
Can you explain the concept of smart contracts in blockchain?
Sure, smart contracts are self-executing contracts with the terms of the agreement directly written into code on the blockchain. They eliminate the need for intermediaries or third parties in the execution of contracts, and can automatically enforce the terms of the agreement once the conditions are met. This can greatly reduce the cost and time associated with traditional contract execution.