Various definitions of "Smart Contract" have focused on some combination of the following 1. Smart Contracts as a mix of software and contract 2. Smart Contracts as software implementation of legal contracts 3. Smart Contracts as software running on blockchain or DLT ("Distributed Ledger Technology") # Smart Contracts as a mix of "software" and "contract" ISDA, the trade association for financial firms that trade derivatives, has adopted a definition that emphasizes that a Smart Contract can be either, or both, or a mix of (1) legal contract and (2) software: