What Is a Smart Contract? A smart contract is a self-executing program that automates the actions required in an agreement or contract. Once completed, the transactions are trackable and irreversible. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or
What Is a Smart Home? A smart home refers to a convenient home setup where appliances and devices can be automatically controlled remotely from anywhere with an internet connection using a mobile or other networked device. Devices in a smart home are interconnected through the internet, allowing the user to control functions such as security access
What Is Smart Money? Smart money is the capital that is being controlled by institutional investors, market mavens, central banks, funds, and other financial professionals. Smart money was originally a gambling term that referred to the wagers made by gamblers with a track record of success. Key Takeaways Smart money is capital placed in the
What Is a Smartphone? The term smartphone refers to a handheld electronic device that provides a connection to a cellular network. Smartphones were introduced to the world in 1994 by IBM but have since expanded to include companies like Apple and Samsung. Although they were originally meant to allow individuals to communicate via phone and email
What Is the Smart Traveler Enrollment Program? The Smart Traveler Enrollment Program is a service that allows travelers to register their trip with the nearest U.S. embassy or consulate. The Smart Traveler Enrollment Program (STEP) is a free service offered by the U.S. Department of State’s Bureau of Consular Affairs to U.S. citizens and nationals
What Is the Smeal College of Business? The Smeal College of Business is a business school located at the Pennsylvania State University. The school offers undergraduate degrees, as well as graduate programs such as the Master of Business Administration (MBA). The college is home to departments in many of the traditional business school areas, such
What Is the Security Market Line? The security market line (SML) is a line drawn on a chart that serves as a graphical representation of the capital asset pricing model (CAPM)—which shows different levels of systematic, or market risk, of various marketable securities, plotted against the expected return of the entire market at any given
What Is a Smokestack Industry? A smokestack industry is a traditional heavy manufacturing industry that produces large items or inputs into other industries. Examples include cars, shipbuilding, steel and other metals, chemicals, and heavy machinery. In short, it refers to any heavy manufacturing industry that has been around for decades. Such industries tend to cause
When paying off debt, there are different strategies that you may use to erase credit cards, loans, and other obligations. The debt snowball is a method of debt repayment in which a person lists all of their debts from smallest to largest (not including the mortgage), then devotes extra money each month to paying off
What Is a Social Good? A social good is something that benefits the largest number of people in the largest possible way, such as clean air, clean water, healthcare, and literacy. Also known as “common good,” social good can trace its history to Ancient Greek philosophers and implies a positive impact on individuals or society
