This is a several part summary of the Udemy lesson: Blockchain and Bit coin fundamentals completed with my own research. Welcome to Part 4.

The focus of Part 4 is Smart Contracts.

Blockchain: smart contracts application

Using a blockchaintoken of any type of assets/propriety such as a house, car, etc…then transactions can be performed pier-to-pier without the need of a 3rd party.

A smart contract is a computarized transaction protocol that executes the terms of a contract.

Definition

• DAO: Decentralized autonomous Organization
• DAC Decentralizedf autonomous Corporation

DAO is a collection of smart contracts: running automatically on a blockchain.