This document summarizes a presentation about smart contracts and their potential applications. It discusses: 1) The current state of smart contract languages and lack of lifecycle management, which has led to adoption failures and security issues. 2) A proposed business collaboration model and eSourcing Markup Language (eSML) to address these issues through a standardized language and complete lifecycle management for smart contracts. 3) The lifecycle for a proposed smart contract governance platform, including setup, decentralized infrastructure rollout, conflict management through rollbacks, and termination phases, modeled using Colored Petri Nets for formal verification. 4) Various emerging technologies like blockchains, cloud computing, and big data that