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[AUDIO LOGO] A smart contract follows the same principles as a vending machine. Insert the incorrect amount, and well, theres no snack. Insert the correct amount, and a snack will be released. Smart contracts are computer code programmed to automatically execute a predetermined action when certain requirements are met-- just like a vending machine. Lets break it down. Simply put, contracts are agreements that usually need a third party, like a lawyer, to authorize and ensure both parties are holding up their end of the terms. But smart refers to their digital existence, optimized nature, and independence from a third party. Smart contracts live on blockchains like Ethereum, which makes them transparent and anyone can check and verify everything is accurate. But their code is immutable, meaning once signed, you cant change or manipulate them. Many traditional contracts are intentionally written with subjective language to leave room for interpretation, but smart contracts have clearl
