Smart Contracts

“I think it's going to be that intersection between probably what blockchains will do and AI will do, because you will need to have intelligent smart contracts that will do stuff on your behalf”

“And I think that's exactly what we're seeing happen with crypto right now is that crypto is plugging in as a platform. That enables agents to transact natively. So instead of going and trying to operate in a browser over the legacy rails, they just call the sm…”

“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.”

“The smart contract that he wrote locked up 20% of the developer wallet or 20% of the float into the developer wallet over a three month or so time period.”

“All you have to do is search on Google interoperability hacks, and you will see hacks of hundreds of millions of dollars, where what I mentioned earlier with the wrap in the smart contract, hackers just attack that contract, 24, seven all day, because they say…”

“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…”

“This is the gateway to web three and smart contracts have done a very good job, but the problem with them is the fact that they haven't changed much since. More or less when they were invented. And this technology has a lot of benefits, but the problem is that…”

“Bottom line, it would cost you around 250,000 dollars and about four months of development. And then you would develop a one single solution.”

“I think NFTs actually could replace smart contracts and STOs or security tokens.”

“Smart contracts really are just a programming language that are probably the equivalent of HTML or JavaScript for creating a website. Only these run on a decentralized distributed basis on top of a blockchain.”

“In their most recent drop, which was a error in the code around the smart contract that was exploited and caused about thirty three million dollars to be locked forever in the smart contract.”

“What I mean by that is like a lot of the time, what we're doing in web three is we're writing custom contracts, custom software or grabbing multiple things and sort of putting it together. And because of that, and also because there's a shortage of talent and …”

“And you read this and you think, okay, that's not a mass market consumer experience any more than the command line was, any more than open source coding was, and you can believe everyone will learn the command line and everyone will write the code, but they pr…”

“It's locked into our smart contract that we have a fixed supply, two hundred fifty million tokens, which is interesting, right? Because you can never be diluted, right? It's dilution proof.”

“So smart contracts really is the feature that underpins Ethereum. It is the defining characteristic that transforms Ethereum from a singular currency that functions like gold, aka Bitcoin, to a programmable blockchain or technology that hundreds of companies c…”

“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.”

“Contrast that with royalties in the music industry, which is like a completely opaque system with many layers of middleman that are each taking a cut, right? It's a wildly more efficient architecture. That's uniquely made possible by blockchains and smart cont…”

“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.”

“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.”

“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…”

“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.”

“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.”

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

“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?”

“So you could program that into the security, you know, relatively easily with smart contracts where you look at the length of time that a particular asset has been hold by a particular wallet and allocate voting rights in that way.”

“So we could just look and see how we did take fifty million dollars into a sub-account. But there was a rule in the smart contract which gave us about four to five weeks time to solve the problem.”

“Yes. I really like smart contracts. I think those based on the blockchain, or using the blockchain, I think that. That's really promising.”