The technology behind the development of smart contracts in blockchain primarily involves distributed ledger technology (DLT), which facilitates automatic contract execution without the need for intermediaries. Smart contracts are self-executing contracts where the terms are directly written into code. Utilizing Ethereum and other blockchain platforms, they enable secure, transparent, and verifiable transactions. This technology ensures that once pre-defined conditions are met, the contract executes itself, thereby reducing conflicts and increasing the efficiency of various financial and legal agreements.