I've been a big fan of Blockchain technology for a while now. Some years ago I wrote a guide to the Blockchain protocol that is still being referenced today.

Despite my admiration for the underlying technology, I can't but cringe at the current fervor around the space. The industry is riddled with fraud, wannabes, and ignorant. This wouldn't be a problem except for the fact that we're playing with sophisticated technology and people's money.

One of the hottest cryptocurrency areas within the recent fever is Smart Contracts. When, years ago, I dove into Blockchain technology, Smart Contracts were in their infancy. Plenty has changed since then.

It now seems prudent to go on an exploration of what are Smart Contracts and how useful are they. Are they a fad? Do they even make sense? Who should use them? Is it wise to get your company involved?

What is a Smart Contract?

In 1997 Nick Szabo coined the term Smart Contracts to describe the digital automation of certain aspects