The concept of smart contracts is a very important one especially when one talks about decentralization, decentralized applications or decentralized finance. In my own understanding, the huge significance of smart contracts in financial systems can be attributed to it efficiency in making sure trustless and accountable transactions are completed; with this, reliability and trust will be achieved. Also, where most platforms uses smart contracts to perfect their financial services others then to be lagging behind; and this is also the reason most platforms using smart contracts keeps making headway while others keeps struggling. So it goes to show that, so far a platform is a financial services platform, there is need for smart contracts in other for trust to reign.