Are smart contracts AI?

Smart contracts are digital agreements that automatically execute transactions between parties, increasing speed, accuracy, and integrity in payment and performance. Smart contracts are legally enforceable if they comply with contract law .

The ‘trustlessness’ of smart contracts is a misnomer . The use of smart contracts may facilitate the entry into transactions with others with whom we have no prior social ties, no past experience and whose reputation is unknown, thereby reducing the need for interpersonal trust between contracting parties.

Smart contracts have emerged as one of the most efficient and effective ways to streamline data management. By converging AI and smart contracts, there is great potential to improve AI and machine learning (ML) driven applications and to streamline data management functions.