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ISC2 National Capital Region - Auditing Smart Contracts

Smart contracts enable automated execution of agreements, rights, and obligations in digital form between two of more parties. Smart contracts introduce additional pitfalls and prerequisites to the auditing process for the auditors. Smart contracts are tamper-proof computer codes on the blockchain that enable automated execution of agreements, rights, and obligations in digital form between two of more parties. Smart contracts provide standardization, speed, security, and certainty to transaction settlement. Accordingly, smart contracts are poised for rapid adoption as organizations seek to reduce transaction costs using blockchain technology. One prevailing argument is that the combination

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