Smart Contracts are self-executing programs that automate transactions and eliminate the need for

intermediaries. They operate on blockchain networks and are coded to execute specific actions when

predetermined conditions are met.

Key Details:

Transaction Automation: Smart contracts automatically execute the terms of a contract once the

agreed-upon conditions are fulfilled. This reduces manual processing and ensures transparency and

trust between parties.

Elimination of Intermediaries: By running on a decentralized network, smart contracts eliminate the

need for third-party intermediaries, such as lawyers or notaries, reducing transaction costs and

increasing efficiency.

Application Across Industries: Smart contracts are used in various sectors, from finance and supply

chain to insurance and real estate, due to their ability to enforce terms without human intervention.

Therefore, D. Smart contracts is the correct answer, as they facilitate automated transactions and

remove the need for intermediaries.