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As a disruptive and revolutionary technology, blockchain-based smart contracts technology (SCT) has brought new opportunities for small and medium-sized enterprises (SMEs). Drawing from transaction cost theory and the Uppsala model, this paper proposes a novel model that suggests by adopting SCT, SMEs can reduce their market commitment to foreign markets and perceive less market uncertainty, thus increasing internationalization speed. The model will be tested by questionnaire survey data collected from stakeholders of SMEs and SCT. This study will contribute to the literature on SME internationalization by highlighting the importance of digital technologies as a driving force.