Blockchain Smart Contracts We’ve all heard about the benefits of smart contract technology - a trustless tool to boot out the middleman when exchanging money, assets, or anything of value. As revolutionary as blockchain’s latest buzzword may be, smart contract bugs are causing untold chaos. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain technology network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.