Smart Contracts as a Third Party Coordinator

Abstract

One of the important issues in the field of contract implementation is the security and speed of contract implementation in a way that can gain the trust of the contracting parties. In response to this challenge, one of these tools are smart contracts, which compared to other types of electronic contracts have features such as high speed and security and low cost in forming the contract. Smart contracts are currently used in various fields such as finance, law, banking, stock exchange, blockchain, government, industry, charity, etc. These contracts have many advantages, such as reducing costs, increasing speed, improving security, eliminating intermediaries, and preventing fraud. In simpler terms, smart contracts have taken over the task of making transactions with tools, the most important of which is the blockchain platform. Hence, in this research, the framework of using smart contracts in the field of e-commerce is discussed and the advantages, disadvantages, how to apply, successful experiences, and perspectives for the future of these contracts are presented.