International agreements are contracts that involve parties from different countries or jurisdictions. They can be used for various purposes, such as trade, investment, cooperation, dispute resolution, and more. However, international agreements also face many challenges, such as:

• Complexity: International agreements often involve multiple parties, languages, laws, and regulations. They require extensive negotiation, drafting, and verification to ensure that all terms and conditions are clear and consistent.
• Cost: International agreements can be expensive to create and enforce. They may require the involvement of intermediaries, such as lawyers, arbitrators, or courts, who charge fees for their services. They may also incur transaction costs, such as taxes, tariffs, or exchange rates.
• Trust: International agreements rely on the good faith and compliance of the parties involved. However, there may be cases of fraud, breach, or dispute that can undermine the validity and effectiveness of the agreement. Moreover, there may be differences in the interpretation and enforcement of the agreement across different jurisdictions.

• Accuracy: Smart contracts record all terms and conditions in explicit detail. They eliminate the possibility of human error or ambiguity that can arise from manual or verbal communication.
• Transparency: Smart contracts are stored on a public and distributed ledger that is accessible and verifiable by all parties involved. They ensure that everyone has the same information and understanding of the agreement.
• Speed: Smart contracts execute instantly and automatically when the conditions are met. They do not require any paperwork or intermediaries to process or approve the transactions.
• Security: Smart contracts are encrypted and immutable. They cannot be altered or tampered with by anyone without the consent of all parties involved. They also protect the privacy and identity of the parties by using cryptographic keys and signatures.
• Efficiency: Smart contracts reduce the need for intermediaries and their associated costs and delays. They also simplify the management and monitoring of the agreement by providing a clear and consistent record of the transactions.

• Trade: Smart contracts can facilitate cross-border trade by automating the payment and delivery of goods and services. They can also reduce trade barriers and costs by eliminating intermediaries, taxes, tariffs, or exchange rates.
• Investment: Smart contracts can enable foreign direct investment by automating the transfer of funds and assets between investors and investees. They can also provide transparency and accountability by tracking the performance and returns of the investment.
• Cooperation: Smart contracts can foster international cooperation by enabling joint projects and initiatives between different countries or organizations. They can also ensure compliance and coordination by enforcing the rules and obligations of the cooperation.
• Dispute resolution: Smart contracts can prevent or resolve disputes by providing a clear and objective record of the agreement and its execution. They can also implement arbitration or mediation mechanisms by appointing neutral third parties or using predefined criteria to settle disputes.

Here is a table I made with the advantages and disadvantages of traditional and smart contracts for different signed agreements: