As of now I know that BTC is more on Payment. In the future will we utilize a Smart Contract-like?
Bitcoin is likea currency however smart-contract is a protocol intended to verify or facilitate a credible transactions or in more simple words agreement that can be enforced through a blockchain.
Bitcoin protocol can be used to create smart contracts.
https://particl.io/ is doing this by using Bitcoin-based smart contracts to manage funds in their trustless escrow.
You can read some details here
https://bitcoinmagazine.com/articles/yes-bitcoin-can-do-smart-contracts-and-particl-demonstrates-how/BTC is actually not very practical for payments and transactions for 2 reasons :
* High transaction costs
* Slow confirmation times
Bitcoin is still evolving multiple solutions are on the table already like SegWit, Sidecahins or Off-chain. We should give some time and best out of it will come yes these are the current issues but theseare solvable. Bitcoin community is working to hard address all these.