As a product moves throughout its journey it can be tracked very well. We can use Smart Contracts to track an item but also prove its authenticity and where it came from fighting counterfeit. All we need is verification from Louis Vuitton and we have verifiable proof it is not a knockoff. With a 3rd party identifier, we can ensure it wasn’t made by child labor as well, taking the offline world online. These proofs would be found in a Smart Contract and translate into a NFT of verifiability found on a Smart Contract and on the blockchain! We can see where everything came from, how it was made, and that it is tailored to you! A Smart Contract can be smart and tell you where something is coming from and after time turn into an NFT. There is nothing to worry about as the code works for you and cuts out middlemen peddling knock-offs and instead supports authenticity and transparency. If you want to know where your food comes from an inspector can inspect a plant, audit the supply chain then sign an oracle that would translate into an NFT signaling the farm met certain standards and requirements. Thus, we can put the edge on everybody to eat healthy, ensure a fair process for the lives of animals and protect the environment. It is all about management and freeing the users, coders, and entrepreneurs.
All through verification and Smart Contracts we can cut out middlemen, simplify processes, provide transparency, create tokens and derivatives, give updates and notifications, and ensure counter party risk is eliminated though out the blockchain system with fair bonds, collateralization ratios, and the ability to pivot and top up one’s balance in a trading account or in a company, to maintain solvency and transparency. We can purely turn the nerdy around. There are many things a Smart Contract can do, and we give leeway to your creativity. You can disrupt typical judicial and coding practices by having a blockchain system for insurance and NFT issuance based on government structures and supply alternatives to invest in. You can connect the government with the people, and the people with each other. You can get kids coding at a young age and you can get computer skills that will last a lifetime. Smart Contracts are between you and me, and between us and a computer. They can be used to hedge and gamble, and they can be used to issue tokens or support claim. Smart Contracts will no longer be the domain for only nerds, it is time to learn about Smart Contracts for yourself!
Essentially, Smart Contracts allow us to transact without an intermediary using an IF THIS then THAT statement. You can use your imagination and apply this to any situation at hand. We can upgrade with code and bring the offline world online, and downgrade complexity with simplicity. Instead of a judge and his bias we will use computer programing. This can reduce counterparty risk. Counterparty risk is the risk that the other team will fail to perform their duties. Today Smart Contracts and DeFi are able to leapfrog this problem. By using flash swaps, we can ensure a bond is repaid with interest and sufficient collateral is maintained, a positive shift in finance. If there is a failure the code reverts to its initial state as if nothing bad ever happened! We dream of second chances, new use cases for lending and borrowing, and security through simplicity and audibility. However, you can still get dangerous with Smart Contracts, all you have to be willing to do is bet!
Welcome to Auger, it is a no limits, all access, low fee betting platform for the masses. Because the protocol is not rigged or owned by fat cats it wants to put the cash in your hand. You can bet on nearly anything and the platform was hyped up for the presidential debate by Vitalik Buterin himself. Imagine the potential of betting on this upcoming election? Will Trump win? If he does you could score! You can watch carefully as the values for election or not accrue in the jackpot pool. You can buy coins representing your stake. In 2020 Vitalik Buterin bought NTRUMP a coin part of a Smart Contract that would pay out if Trump lost the election, from willing counterparties after the election ended! Of course, they all believed the election was a scam, but that is another story! Vitalik made $56,803. However, he did note the process was complicated and exhaustive! We also have Omen, Ploymarket the world’s largest prediction market and PredictIt. Perhaps you can spot a clever Arbitrage strategy between these platforms? Smart Contracts are also the first step in token creation.
As money is made, an action or path taken, or an investment confirmed a Smart Contract can create a token to represent what has happened. We can credit early investors’ wallets with a drop of some coins from our Smart Contract at the outset of creating our company. It is all based on IF THIS then THAT or IF THIS then something ELSE will happen statements. So, IF people sign up to our newsletter THEN we can issue them governance tokens giving them further right to determine the direction of our program. IF something fails it will revert to something ELSE to maintain a peg reported from day 1. We can keep people happy, as technically, according to crypto and blockchain philosophy these Smart Contracts are open and transparent and for all to see on earth. Thus, we cannot screw with people claiming our new token will be a game changer when it won’t. All one has to do is check the tape. Part of these coins that won’t work are coins with a Smart Contract that requires a dividend to be paid each time they transfer! Yes, ETH requires gas but only a small amount. These coins are blocked on many exchanges as they don’t provide transparency, long term liquidity, or real value. Still, you can push it to the limits with your coding skills to bring new tokens into the market as long as they are transparent, have a good use case, can be audited, supply bug bounties, test your user’s creativity and challenge the status quo! Smart Contracts can also link together abstract parts of the internet to make more money.
Smart Contracts can be used to “Wrap” a coin, for example we can wrap BTC into WBTC and put it on the ETH blockchain! This will provide liquidity for all tokens. Also realize a clever manipulator of fate could debate and state we can Wrap our tokens and now have 2 tokens for the price of one, so lend one and get adventurous with the other and have some fun! It’s no coincidence nerds know how to make the most of coding from blockchain to blockchain, giving you the ability to hold and the ability to explore. Chain Link wants to use Smart Contracts to have cross chain interoperability insuring one chain is not too dominant over the others, they should be linked together not ranked above one another in true crypto style! Thus, Smart Contracts link together people and processes, so we can use them to issue bonds, derivatives, and divvy out royalties, tokens, claim and vote for the structure of a company. They can also be used for bonds.
Bonds are a contract between you and I, that will only get smarter and safer with time. We can cut out lawyers and revert to states predetermined by our Smart Contact. We can agree on interest rates, fair prices, and transferability over time. We can agree on liquidation and have pre-programmed contingency steps. We can also ensure we use Smart Contracts to top up collateral requirements if the market moves too much, using the help of an oracle giving us up to date information on the world around us. By using a Smart Contract, we can create mass mutual products like Pool Together and Alpaca Finance. Smart Contracts don’t just link us to the world around us they can also be used for royalties, claim and historical accuracy.
The best use for Smart Contracts will be to track who did what and divvy out payment or tokens to the required parties. For example, we have a company, you and me. When it makes money that money is sent to a custodial, Multi-Signature wallet. From here our board of directors may vote, using more Smart Contracts to see where the money is delivered to. This could essentially be used for every business on earth and the government may want this done to provide transparency for taxes. It makes sense to use this to bring the offline world online and to streamline processes. We can sell houses, art, and royalties! Using tokens and Smart Contracts, I can now securely sell my share of anything and audit what it is worth based on our Smart Contracts, and Oracle and the Multi-Signature wallet. This could end up making a fantastic amount of money and create a new economy! Imagine buying a priceless Picasso online with only $10, yet still giving you a share in the priceless arts worth! Or imagine owning part of a company that goes viral. We could make the world more liquid and sell claims on our revenue or claim on our business processes though Smart Contracts or governance tokens that would enforce certain paths to take, for example how many dividends to sell and how much to reinvest in the platform. This is known as creating a DAO a Decentralized Autonomous Organization. A DAO can issue tokens, divvy out claims, share a record and invest in the future with a wise business model. So, as in any healthy relationship you can tell Smart Contracts what to do and Smart Contracts can also tell you what to do, this can keep society chugging and finance on its toes!
Smart Contracts can be used to tell you your car needs to be serviced or you need to update your collateral in your trading account. Smart Contracts can be entered in by young offenders so they can prove they have turned a new leaf and added to society after being verified by a licensed probation officer, turning into a worth wile NFT. Smart Contracts can get you Visas faster by proving who you are though known channels. Smart Contracts can ensure you don’t drive your car drunk to the party and can divvy up the tab for lunch, and who owes who. Smart Contracts can be used for voting and used as an alarm when you spend too much money! Thus, we can trust Smart Contracts to not only move money in secure ways but to guide us in the process!
An excellent use case for Smart Contracts is insurance. We can mint insurance tokens and use them for a discount on the app if you are a good driver. In the case that you are not, Smart Contracts can divvy out the funds needed and cut lengthy lawsuits out of the picture. It is quicker, essentially guaranteed to work, and a support of all you need thought your troubling times: simplicity. Thus, insurance could be faster, more exact, and reliable. We think with this in mind drivers would feel more comfortable on the road. The Smart Contract can reward them no matter what happens, and the Smart Contract can protect them as they support a platform that reduces fees and cuts out the jury, and instead, gets the jury to bet on you though Smart Contracts that spread wealth and responsibility around and are not exhaustive and time consuming. Today truly is a new day for finance, where finance caters to the users and not the owners, it’s all about simplicity.
Smart Contracts can mint and burn tokens and be used to do the math with insurance companies, but they can also be used as a treat! If students attain certain grades the Smart Contract will pay out a certain ratio of scholarships or money to eligible students. Thus, Smart Contracts can provide for our future! We can even see how many students are succeeding and attaining the scholarships simply by checking the Smart Contract. This can increase school pride and initiate harder work by the students. In this case there would be a Smart Contract between the students and the school. However, we can also have a derivative Smart Contract with two counterparties, just you me, a settlement date, and a link into the greater economy with an oracle and proof of authenticity that could go a long way, thus turning our Smart Contract into a derivative.
Derivatives are an excellent use case for Smart Contracts. A derivative is something based on something else. So, we can have an agreement about the nature of the price of an asset that is underlying. We can pick an asset, if it goes up I win, if it goes down you win, or vice versa. We can establish by how much we would owe, and we could actually purchase the underlying asset if it is linked to us through a blockchain or exchange or simply trade away the profit from our “in the money” contract to another. All we need is an oracle service. An oracle, like ChainLink, allows us to connect our Smart Contract to the world around us to ensure we can execute our programs fairly and accurately. These are non-bias and verified. We can essentially write a prenup between the two of us and enforce it with cryptography. People can then bet how long the marriage will last! Smart Contracts will get easier to write and will leave judges quite bored. They can revert before anything malicious happens and they can ensure you take a specific action and ensure your goods. They can also be used to bet and create special derivatives for only you and me!
As AI becomes more powerful we will see Smart Contracts minting unique NFTs. As a matter of fact, this has become reality with many NTF groups such as the Crypto Punks and Bored Ape Yacht Club. They use a Smart Contract with Verifiable Randomness Function (VRF) to create a whole army of like but different NFTs! As with any good marriage there will be wear and tear in the creation process and there will be the ability to leapfrog the past. This has already been done, you can get a specially verified Bored Ape or Crypto Punk with verifiable traits, and blow simplicity, and Jackson Pollock out of the water. Then you can get your hands dirty and invest in the movement and join the Board Ape Yacht Club on Sandbox with Snoop Dogg; if you are skilled enough to find it! Thus, this devilish part of Smart Contracts has been programmed into many games to date. After you have attained a level in a game a Smart Contract can deliver to you a special NFT. Not only are Smart Contracts within games, art, and companies they can be found in tests. If you get certain answers right you can earn a badge. Thus, Smart Contracts can guide us into the future and prove your PHD, Bord Ape or Crypto Punk is unique and verified and thus transformed into art and human and machine melded evil genius. Additionally, Smart Contracts can also be used for supply chain management.
As a product moves throughout its journey it can be tracked very well. We can use Smart Contracts to track an item but also prove its authenticity and where it came from fighting counterfeit. All we need is verification from Louis Vuitton and we have verifiable proof it is not a knockoff. With a 3rd party identifier, we can ensure it wasn’t made by child labor as well, taking the offline world online. These proofs would be found in a Smart Contract and translate into a NFT of verifiability found on a Smart Contract and on the blockchain! We can see where everything came from, how it was made, and that it is tailored to you! A Smart Contract can be smart and tell you where something is coming from and after time turn into an NFT. There is nothing to worry about as the code works for you and cuts out middlemen peddling knock-offs and instead supports authenticity and transparency. If you want to know where your food comes from an inspector can inspect a plant, audit the supply chain then sign an oracle that would translate into an NFT signaling the farm met certain standards and requirements. Thus, we can put the edge on everybody to eat healthy, ensure a fair process for the lives of animals and protect the environment. It is all about management and freeing the users, coders, and entrepreneurs.
All through verification and Smart Contracts we can cut out middlemen, simplify processes, provide transparency, create tokens and derivatives, give updates and notifications, and ensure counter party risk is eliminated though out the blockchain system with fair bonds, collateralization ratios, and the ability to pivot and top up one’s balance in a trading account or in a company, to maintain solvency and transparency. We can purely turn the nerdy around. There are many things a Smart Contract can do, and we give leeway to your creativity. You can disrupt typical judicial and coding practices by having a blockchain system for insurance and NFT issuance based on government structures and supply alternatives to invest in. You can connect the government with the people, and the people with each other. You can get kids coding at a young age and you can get computer skills that will last a lifetime.
You can take supply and demand and put it on the internet with a Smart Contract that will track and respond to any situation at hand. You can doubt pyramid schemes and look into their code, and you can be an entrepreneur and transcend circumstances by creating NFT trophy’s for good grades at school. You can turn competition or really anything into art! We believe the future is in your hands and it is going to happen fast!
Smart Contacts can:
Create anything with a IF THIS, THEN THAT or ELSE statement.
