Can smart contracts exist without blockchain technology?

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Smart contracts, as commonly understood, are intricately linked to blockchain technology, leveraging its decentralized, immutable ledger for functionality. While theoretically, smart contracts could exist in other decentralized or distributed systems resembling blockchain's characteristics, such as a decentralized network or distributed ledger, ensuring the same level of security and transparency becomes challenging. In centralized systems, smart contracts would face hurdles due to the absence of decentralized consensus mechanisms and immutability, making it difficult to guarantee their integrity. Thus, while the concept of smart contracts extends beyond blockchain, their effective implementation and widespread adoption currently rely heavily on blockchain technology and smart contract development practices.