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About author:
First Name, Last Name:	Richard Bloom
Postal address:	661 Crim Lane, Germantown, 45327, United States
Tropical zodiac:	Cancer
Company:	William Wanamaker & Sons
Occupation:	Commercial photographer

Smart contracts are contracts that are encoded on the blockchain with predefined rules, enabling them to execute automatically without the need for intermediaries. Federal Reserve in essence already issues digital moneyvia the commercial banks that have accounts with them.