WHAT IS A SMART CONTRACT? Smart Contract are non – traditional, self- executing contracts that are executed in form of a code when the conditions of the contract are met and these conditions are written directly in the lines of the code. It was a concept introduces by Nick Szabo, a cryptographer and legal scholar. The smart contract can be legally enforceable as it consists of an offer, acceptance, consideration provided cryptocurrency is legally accepted as a consideration under Indian Law. Section 5 and 10 of the Indian Information Technology Act, 2000 also legally accepts digital signature. In addition to this, Section 65 B of the Indian Evidence Act, 1872 also accepts digitally signed contracts as evidence. Although, Smart Contracts can be legally enforceable but right now there is no regulation of smart contracts under Indian Law. So, one should be careful while indulging in such contracts. Bajaj Electricals Ltd. is one such company that uses smart contract for blockchain vendor financing also knowns as supplier financing using smart contract which has quickened the process of providing payments to their vendors as well as it has made the entire process paperless. The team at Reddy and Reddy Law Firm are experts in varied field of laws and are regularly representing their clients in front of various courts and tribunals in India.