Smart Property in Action
Smart property is to deeds as Bitcoin is to money. In the same way that Bitcoin revolutionized the concept of currency, smart property revolutionizes the concept of ownership, removing the need for a central authority to say who owns what. Our system of ownership is just one in a growing line of things to be decentralized, but will inevitably be among....
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Smart contracts, a feature of "Bitcoin 2.0" technologies such as Ethereum, could soon operate on the Internet of Things (IoT), control objects in the physical world, and power a new decentralized version of the sharing economy, for example sharing services similar to Uber and Airbnb that operate in pure P2P mode without centralized management. Smart contracts represent a disruptive innovation with a huge potential. In 2001, legendary cryptographer Nick Szabo spoke of smart contracts that solved the problem of trust by being self-executing and having property embedded with information about....
The 'Wild West' of smart contracts is about to get a little wilder. Following the first-ever public demo of enterprise blockchain company Chain's in-house smart contracts language this week, the venture-backed startup is now preparing to release the technology to the public. However, in an exclusive demo of the technology with CoinDesk, the person in charge of creating the language gave a sneak peak at the company's latest creation, explaining, too, what he envisions as its ideal application. Product architect Dan Robinson told CoinDesk: "Ivy is particularly useful and well-suited for....
Introduction. It seems that more and more things are being placed on the blockchain. Altcoins, smart property, and even decentralized organizations are now emerging, and the inclusion of the Internet Things will add billions of devices from around the world. Eventually, everything will be on the blockchain, or at least everything in the decentralized world. Stored in readable form, no user would be able to handle that much data; with the advent of Factom, however, we can hash that data down to a manageable size and still use it to authenticate records. Now, you might be wondering: will....
Lost in our 'pie-in-the-sky' projections on the future of blockchains is the most important concern anyone should have on the technology: What are the opportunity costs? Nowhere is that more pronounced in the current debates then in the case of the "smart contract". While I believe that smart contracts will provide a number of efficiencies in our blockchain future, there's one category of smart contracts that I'm most skeptical of – that of the recently popular "Turing complete" smart contract. All smart contract platforms in use today fall into roughly two broad....
Ralf Kubli said that smart contracts can create fractionalization agreements and divide plots of metaverse land that can be leased out individually. As metaverse land assets become more expensive, ownership becomes harder for normal users. Because of this, Ralf Kubli, Board Member at the Casper Association, argues that fractional ownership, similar to property loans in the real world, may gain traction within the virtual space through nonfungible tokens (NFTs). Kubli told Cointelegraph that understanding fractional ownership within the metaverse is very similar to the legacy property....