Smart Contracts help us to exchange money, property, shares or anything else of value in a transparent, conflict-free way while avoiding the services of an intermediary.
Vitalik Buterin, Ethereum's programmer, explains that a smart contract approach involves transferring an asset or currency into a program "and the program executes this code and automatically checks the condition and automatically determines whether the asset is to be sent to one person or returned to the other, or whether it is to be immediately refunded to the person who sent it, or whether it is a combination of these conditions". The animated gif file has the size 1200x1697px.
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