Smart contracts and lego blocks

You had me at lego blocks.

I’ve often made fun of Bitcoin and blockchain. I won’t be doing that anymore. It started with this podcast. In it, the founder of Ethereum explained how the blockchain can attack complex contracts through lego block style building.

We used this same analogy at RiskGenius.

It will take longer for smart contracts to take hold than it will new financial instruments, like Bitcoin. Why? Because it’s easy for many people in finance to see how they can make money in Bitcoin (although a lot of wealthy financiers will be removed from financial transactions in the future).

Lawyers will not benefit from smart contracts. At least most of them (like 99.9%) will not. Smart contracts will be self executing. And for the first time, in listening to that podcast, I understood how smart contracts could take on Compex transaction.

Think of each clause as a lego block.

I’m paying attention.

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