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Blockchain smart contracts are self-executing contracts in which the terms of the agreement are written directly into code. These contracts automatically enforce and execute the agreed-upon terms when predefined conditions are met. Smart contracts eliminate the need for intermediaries, such as banks or legal institutions, ensuring that transactions occur in a decentralized and trustless manner.

The transformative power of Artificial Intelligence (AI) lies in its ability to process and analyze massive amounts of data, identify patterns, and perform tasks that traditionally required human intervention – all at a speed and scale that humans cannot match. This transformative potential is particularly evident in the finance and banking sector, where the complexity and volume of transactions demand highly efficient, accurate, and adaptive systems.