Smart contracts have become an integral component of many business operations. They are virtual agreements that are self-executing. Any outstanding blockchain developer offering crypto advisory services must understand how to create smart contracts. These days, the execution of virtual agreements is considered an essential skill of any crypto consulting firm.

‘Smart contracts are encoded transactions that specify each parties’ rights and obligations. They provide for simultaneous execution of obligations by all parties. In a simple securities transaction, that means a smart contract effects payment and delivery of the security at the same time.’