I’m really surprised that some people here don’t understand the value of smart contracts.
Contracts and rules and regulations are made by humans. Humans can sometimes be unfair and biased and error-prone.
Code on the other hand does not discriminate. Ethereum smart contracts are open source and auditable.
Technology can be used for good or bad. But I would much rather an industry be run by fair, auditable code than (unfortunately faulty) humans.
If I apply for a mortgage, I would like to know the process if driven by code which is applied transparently and equally to everyone, so things like skin colour isn’t a factor.
Competition will always remain. If a company uses unfair smart contracts, there will always be alternatives.
Contracts and rules and regulations are made by humans. Humans can sometimes be unfair and biased and error-prone.
Code on the other hand does not discriminate. Ethereum smart contracts are open source and auditable.
Technology can be used for good or bad. But I would much rather an industry be run by fair, auditable code than (unfortunately faulty) humans.
If I apply for a mortgage, I would like to know the process if driven by code which is applied transparently and equally to everyone, so things like skin colour isn’t a factor.
Competition will always remain. If a company uses unfair smart contracts, there will always be alternatives.