DOI 10.1515/rebs-2018-0079 Volume 11, Issue 2, pp.137-156, 2018 ISSN-1843-763X ON SMART CONTRACTS AND ORGANISATIONAL PERFORMANCE: A REVIEW OF SMART CONTRACTS THROUGH THE BLOCKCHAIN TECHNOLOGY ZAHEER ALLAM * , Abstract: As the Blockchain technology is gaining momentum in popular culture through Cryptocurrencies, its full implication and application to businesses, on a concrete and factual level, is still seen to be in its infancy stage. While the technology provides numerous advantages regarding stability, trust, speed and others, the robustness of the technology is not widely disseminated. This is further coupled by the common notion of resistance to change in business management processes. This paper explores the concept of Smart Contracts through the blockchain technology and its relevance to the business sector and further outlines the advantages and limitations of its applicability as of date. Keywords: Smart Contracts; Blockchain; Security; Efficiency. 1. INTRODUCTION The emergence of advanced technologies has led to increased competition between business as each try to utilize the latter to bolster the employees’ productivity and general performance of the firm (Chen, Chiang, & Storey, 2012). As a result, technology has become a critical backbone of organizational operations and a core driver of organizations’ innovations and competitiveness. According to Iansiti and Lakhani (2017), business enterprises have shifted from the traditional ways of business and have consequently adopted modern, more reliable and cost-efficient mechanism; smart contracts are one of these mechanisms. Any financial transaction that is carried out by an organization with third parties can be viewed as a form of a contract, however simple, or complex the transaction is. Essentially, financial openness and transparency * Zaheer Allam, Lord Ashcroft International Business School, Anglia Ruskin University, United Kingdom com.