smart contracts

“They're sometimes called smart contracts or virtual corporations, etc. I really just, first, first, these things are fundamentally equivalent to each other. And second, I prefer just to use the term mechanism, right?”

“Arizona's legislature about three, four weeks ago actually put into the state commercial code smart contracts And recognition of distributive ledger.”

“I would say, in the short term, things like formal verification coming to smart contracts, so we don't have single line bugs that lock up hundreds of millions of dollars.”

“One of the most interesting ways that smart contracts are different from traditional software engineering is that they actually have the characteristics of virtual hardware.”

“This is the sort of idea to me, the key idea of a blockchain is that the code continues to run as designed and it has sort of game theoretic guarantees that it will. Right? And that gives code this autonomous, at least autonomous, not in the sense of like AI a…”

“It's because they not, not only are stablecoins necessary for micropayments, for peer-to-peer insurance, for any kind of smart contract, but they are necessary to enable, at scale, stories like Korachiba.”

“Cryptocurrencies and the blockchain and smart contracts more generally give the tools to create all of these. Payment rails, inexpensive remittances, credit histories, escrow, et cetera, for the billions of underbanked.”

“And I think that speaks to a trend that we'll see where people come together and collectively pool resources together, use smart contracts to govern their collective resources and make investments that no individual could.”

“In the motion picture business, they have this lovely term called a waterfall, which is in a contract for a movie. When revenue starts to happen it cascades down and gets diverted off to different people, and there's a whole structure in place for this. So how…”

“Right now, now formal, formal verification, at least for a subset of programs has become commercially viable for smart contracts because they're so high value and they're so small that they actually are, it's worth doing that on.”