The thing is that smart contracts don’t solve the hard part, they solve the easy part, moving the money.
In well functioning countries that’s not even an issue at all, physical possession of the money is not very relevant. The important part is to determine who owns them.
Of course, if there is a third party that both sides trust, then you can indeed use smart contracts, but that’s exactly the situation where you don’t need them.
I’m sure someone can come up with niche use cases where so-called smart contracts have a substantial advantage, but they will not revolutionize finance.
In well functioning countries that’s not even an issue at all, physical possession of the money is not very relevant. The important part is to determine who owns them.
Of course, if there is a third party that both sides trust, then you can indeed use smart contracts, but that’s exactly the situation where you don’t need them.
I’m sure someone can come up with niche use cases where so-called smart contracts have a substantial advantage, but they will not revolutionize finance.