Smart Contracts Explained

What Is a Smart Contract?

A self-executing program stored on a blockchain. Runs automatically when predefined conditions are met — no middleman required.

If X happens, then do Y — enforced by code, not by a lawyer or bank.

Real-World Applications

• DeFi — Lending and borrowing without banks
• Land Registry — Tamper-proof ownership records (highly relevant for Nepal)
• Supply Chain — Automatic payment on delivery confirmation
• DAOs — Decentralized governance and voting