Blockchain Coders Win Grant to Fix Smart Contracts With 'Legalese'
The mantra 'move fast and break things' may work well in traditional software, but as the demise of The DAO illustrated, the approach might not be right for experimental financial technologies. But in the wake of The DAO's demise, new efforts are beginning to emerge that seek to address the challenges developers have so far faced working with smart contracts, the key building blocks that underlined the project and whose exploitation led to its failure. One such startup is Legalese, a project that grew out of internal efforts at seed accelerator JFDI Asia, and boasts a notable co-founder of....
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Hybrid smart contracts will change the world by revolutionizing the legal system that exists today. The era of unintelligible contracts written in legalese by lawyers in $2,000 suits with degrees from Ivy League schools is over. The contracts of the next century will be hybrid smart contracts, written in code by programmers wearing $20 hoodies and living in their NYC-shared apartment.What is a hybrid smart contract?Smart contracts are self-enforcing contracts, written in code and executed by the blockchain. These smart contracts are great at sending and receiving money, and doing simple....
No-code or low-code smart contract development platforms have been designed to make it easier to become a blockchain developer. The traditional route would require professionals to master fundamental computer programming concepts and then spend many hours/years learning how to work with complex development environments, before being able to successfully build enterprise-grade applications. However, with the advent of no-code and low-code platforms, it’s possible to create high-end smart contract apps almost instantly. We’re able to build almost anything we want and it’s also easier to....
Hackers are soon going to be the new lawyers as the adoption of smart contracts increase in the near future. The advent of Blockchain 2.0 and Blockchain 3.0 has given rise to new ways of automation using Bitcoin’s underlying technology. There are special cryptocurrency platforms like Ethereum, Rootstock, Counterparty, Lisk and more that allows people to create smart contracts on the blockchain. These smart contracts enable automation by allowing developers to set trigger conditions. These trigger conditions are certain prerequisites, when met, will execute the function programmed on the....
Smart contracts are a key underpinning of blockchain technology, yet they are still misunderstood in many ways. In the fullness of their deployment, they will be no less revolutionary than the invention of the HTML markup language that allowed information to be openly published and linked on the Web. Smart contracts promise to program our world on the head of blockchains, and potentially replace many functions currently executed by expensive or slow intermediaries. Historically, the concept was first introduced by Nick Szabo in 1994. Smart contracts then had a long gestation period of....
Susanne Tarkowski Tempelhof, Founder and CEO of Bitnation, explains to Cointelegraph how smart contracts can lower costs of your business. Cointelegraph: What are Smart Contracts about? Susanne Tarkowski: Smart contracts are applications ‘living on’ the Blockchain, and therefore can’t be censored. Simple, immutable and autonomous applications, basically. As Primavera de Filippi eloquently phrased it during her talk at OuiShare Paris 2016 “Smart Contracts are neither smart nor contracts...”. But ironically, smart contracts are however ideally suited to be… well… contracts! In essence, your....