Besides cryptocurrencies, smart contracts are probably the most talked-about concepts in blockchain.
The benefit of smart contracts has been widely touted by many articles which are claiming the technology will disrupt every industry from insurance to supply chain to healthcare.
But, are smart contracts really as game-changing as they are being presented to be?
There's no doubt smart contracts will be useful, but it's important to separate reality from hype.
I dug in a bit to understand the applications and limitations of smart contracts. Here's what I found: While smart-contract technology has lots of potential, successful implementation is constrained by technological and legal factors—for now.
Let's dive in, shall we?