As technology grows fast it always faces new innovations. one of these recent issues is the Blockchain technology that could make a big revolution to international trade and its different aspects of Law and regulation policies. In the first part of this study, smart contracts will be considered under the main requirements of contract law for the emergence of a legally binding contract and different approaches will be discussed about the legal nature of Smart contracts. The second part will deal with the impact of smart contracts in different sectors of international trade mainly the financial services and insurance industry.