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The application and use of smart contracts enabled blockchain technology in enterprises require a holistic overview. This overview helps to understand the current adoption of this technology and also deduces factors that are inhibiting its use in the modern enterprise that can be business, government, or military. This study provides a systematic review of previous studies comprising of frameworks, methods, working prototypes and simulations that demonstrate the application of smart contracts in organizations. Understanding the current state and usage of smart-contract technology in an organization is a focal point of this paper because much progress occur in developing technologies that support smart contracts while little understanding exists pertaining to their usage in enterprises. In this study, we identify properties of smart contract applications in different domains of modern enterprises. We further analyze and categorize challenges and problems mitigating the use of smart contracts according to the severity of the challenges being low importance, significance and critical challenges. We then discuss current studies that propose solutions to address the significant and critical blockchain limitations.