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First, "smart contract" is a misleading phrase.
A smart contract contains the terms and the enforcement mechanism for a transaction.
We also show how we can enable interactive verification using an efficient smart contract.
Likewise, there is no room to vary enforcement of a smart contract term.
A smart contract can also send transactions to the blockchain in which it is embedded.
That assures all signatories to a smart contract that it will be carried out fairly.
Now enter the smart contract and bitshares.
The DAO's "smart contract" allows it.
Quantstamp automatically checks smart contract security.
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Second, smart contracts are decentralized.
Smart contracts raise legal issues.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com