Call me 2-3 examples where I need smart contract?
Call me 2-3 examples where I need smart contract?
To buy scam ICOs
everyone talks about smartcontracts, but nobody can call 1-2 useful examples where smartcontracts are necessary
Explain to me how these scams work?
>to host an ICO / sell coins initially
>to trade ICO Tokens on a decentralized exchange
>to run a transparent ponzi scheme
ok, so its just a world casino, without real use in economy?
Wanna make a bet?
Eliminate title insurance?
Automatic distribution of funds when certain conditions are met?
Obviously, having an trustless oracle helps with some of the more complex possibilities.
Literally any transaction between to parties. At the minute, if you pay someone for a product/service, they could just take your money and not provide you with what they promised. With a smart contract, the person only gets paid if they uphild the terms of the contract
Put decentralised computer chip in arm at birth. Chip just sends a message to the blockchain every year the human is still alive. After 25 years the insurance companies automatically give you a 5% discount on car insurance.
Put a sensor on your dick, has OP inserted his dick into another man's anus? Yes/No? If yes update his info on facebook to be "Interested in Men" and take him off his parents will
To trustlessly release funds to your family member's eth adresses after the smart contract detects that your death certificate -due to suicide from getting liqd on bitmex- has entered the public record.
in other words. SERGEY! FUCK YEAH! GO SERGEY YEAH!
to make any real world asset/property a fungible token
Sketchy transactions, backroom deals, drugs, and person-to-person sales for secondhand items. Also valuable if the buyer and seller are both not knowledgeable of each others' trustworthiness.
But really smart contracts are to squeeze the banks out as intermediaries, at least in financial transactions. Sending money to a person or business over the internet goes through like three banks before being completed... those banks work like intermediaries who guarantee the buyer has the money, the seller has an account to get the money, etc. Smart contracts don't need banks.
I should include you in this, snarkyanon
deleting shitlib lawyers en masse
Trading customer data for marketing.
Tracking IOT based shit, like livestock, food etc with a barcode securely hashed into a token.
Banking, financing, escrow etc.
Universally accessible databases.
Conveyancing - holding assets in trust, transferring title and ownership easily.
Games - microtransactions that give you tokens you can then use in OTHER games. Imagine an MMO, where that character you built could be sent to a MOBA to play with, so you can have a whole ecosystem built up.
Using DAI to send USD using just Ethereum addresses, therefore meaning ALL current online retailers could use that today & sell shit without worrying about crypto volatility.
Online job markets, bounty platforms etc.
Web hosting & content serving (via torrents using distributed trackers).
You want to see what else? Go search for "Solidity Developer" jobs (at 100-200k per year), and just look at the companies hiring to get an idea of the types of applications.
Strange request, but ok
OP you are 2-3 examples where I need smart contract
>But really smart contracts are to squeeze the banks out as intermediaries, at least in financial transactions. Sending money to a person or business over the internet goes through like three banks before being completed... those banks work like intermediaries who guarantee the buyer has the money, the seller has an account to get the money, etc. Smart contracts don't need banks.
You're not thinking big enough, it's not just to squeeze banks out of being the intermediaries, it's to squeeze out ALL intermediaries. Smart contracts remove ALL middlemen because no one needs to be trusted anymore. You don't need someone in the middle saying things like "If this happens, do this", or "Send this money to this person". Albeit at the moment people are still trying to replace companies with ICO tokens, which is just swapping 1 middleman for another, but hopefully we get there.
If you want to bet on sports but not have to sign up.
This has already happened. Some African shithole just did this to ensure they didn't have a rigged election.
Use your fucking imagination. Literally any agreement that can be turned into code becomes possible with ChainLink.
Learn English first, pajeet.
we are introducing smart contracts to get rid of our Accounts Payable Finance team.
once we know something has been bought, smart contracts will automatically pay our suppliers. No need for a team anymore manually keying in invoices and sorting out what is owed.
I agree totally. Voting, for instance, could be guaranteed by the blockchain through smart contracts. I was just trying to give the most obvious real world instance
>African country fails to do something
Wasn't done using SC or blockchain. Doesn't count.
Yeah I read more closely that you said "at least in financial transactions" after I posted and thought I sounded a bit harsh.
>Call me 2-3 examples where I need smart contract?
o Securities smart contracts such as bonds, interest rate derivatives, and many others will require access to APIs reporting market prices and market reference data, e.g. interest rates
o Insurance smart contracts will need data feeds about IoT data related to the insurable event in question, e.g.: was the warehouse’s magnetic door locked at the time of breach, was the company’s firewall online, or did the flight you had insurance for arrive on time.
o Trade finance smart contracts will need GPS data about shipments, data from supply chain ERP systems, and customs data about the goods being shipped to confirm fulfillment of contractual obligations.
o Prediction Markets by creating appropriate financial stakes and assuming economically rational players with limited financial incentives for cheating, such oracles provide a high assurance of correct crowd-sourced answers.
SMART CONTRACT IS HOW THE ENTIRE THING WORKS WHEN THERE IS NO CENTRAL GOVERNING BODY
HOW DO YOU NOT UNDERSTAND THIS YET
>Literally any agreement that can be turned into code becomes possible with ChainLink.
Yep. Not JUST Chainlink - other great projects on Eth will be needed to make this work too - like Loom, OMG, Plasma, Raiden and other scaling solutions. But Chainlink is going to be a HUGE part of this ecosystem since it's needed to solve the Oracle problem. RIght now, getting data on and off the platform needs handcoded solutions - which is fine but can't scale. A universal protocol like Link to handle this is a no-brainer as a MASSIVE hold.
The holy Trinity of mass smart contract adoption - OMG, REQ, LINK. If no one knows WHY we shill them so hard (and FUD them to get better buy ins), you need to DYOR and go find out. But this is a serious thread, so I'll leave it there.
> inb4 linkies are delusional 1000 EOY.
No, we aren't. And even if it's just $10 or $100 EOY (which is REALLY realistic) it's still a massive gain.
I hate to keep shilling, this being a serious info thread.....but fucking Chainlink nigga. And even without that you can hand-code specific Oracles up.
chainlink is the bridge, that is, triggering a smart contract from other platforms but is also the first one which can securely insert offline data into smart contracts or grabbing them out from elsewhere. every single visionary use case with eth you heard of needs data from outside of the crypto ecosystem or this shit is not going anywhere
nick szabo said that smart contracts have way more potential than currency coins simply because markets they would impact are in the multitrillions and even quadrillions.
first boom was "currency" coins. next wave will be the "smart contract" boom because people will realize there potential and speculate BIG TIME.
see you in 2020 OP. hope your reading comprehension skills are decent enough to understand how big of an opportunity you have been given.
blue ocean strategy. network effect.
This same logic applies to a large amount of other use cases. A few examples:
• Flight insurance
• Bond payments
• Sports betting
• Pay as you drive cars
• Automatic speeding tickets
• Supply chain records
• Data for apps
• Escrow for houses
• Escrow for online purchases
• Shipping insurance
• Life insurance
• Automatically executing trust funds
• Automatic release of titles when you pay things off
Don't waste your time on the eth dinosaur, it's just an unfinished project that hit it's limit. Cardano/Ada is the worthwhile next generation, and it's not merchant/poo influenced.
>ETH is merchant/poo influenced
ETH is literally pure autism
Pure Aryan autism***
>Call me 2-3 examples where I need smart contract?
Automated Invoicing on POD
Hedge fund trading
Times are harsh user, thanks for putting it up!
""The NEC [National Electoral Commission] has not used and is not using blockchain technology in any part of the electoral process,” Mohamed Conteh, head of the NEC, said in a tweet on Sunday."
“Some articles, for example, one we saw on Businessinsider said, ‘Sierra Leoneans vote using blockchain,’” said Marah, referring to an article that referenced other unverified media reports. “It was misleading,” he added.
Your move user.
reduces the need for many greedy heeb lawyers
>The purest form of autism
In all srsnss, crypto kitties will be the foundation of my argument; that game was the use case for eth but.. it just clogged up the eth chain because eth couldn't scale with it.
Having witness nodes (Ada wallets on an online computer) to help process the crypto kitty spam would have fixed the problem along with lumping the crypto kitty requests into specific epochs that could be processed faster by less secure means than conventional mining. The point I'm making is that cardano has options when it comes to scaling things like crypto Kitty's where as eth just doesn't.
I also hate money skeleton and that pajeet friend of his so I'm biased, also skeleton and friends are basically pic related in their behaviour so I don't see much coming out of it in the next 5 years.
Why do people say LINK will be a huge part of the ecosystem when Vitalik and other major Ethereum people literally support and follow Oraclize and its founder?
Seriously nobody has ever addressed this, just spouting muh centralized.
Vitalik clearly does not believe that an entire decentralized marketplace is necessary for simple smart contract data delivery.
Why do all LINK faggots literally bet against money skeleton?
>next wave will be the "smart contract" boom because people will realize there potential and speculate BIG TIME.
Yep. People just don't understand how big this is going to be. It's like buying up domain names and starting a web hosting business in 1996 - it looks kinda shit-tier now because it's so early, but you're going to be RICH in about 2 years time. All the good projects are going to be in full release, or at least good quality open beta by EOY. This really is the calm before the storm - anyone who missed the currency bull run needs to get in NOW for the smart contract bull run, which is the main event.
>Cardano/Ada is the worthwhile next generation
Meh, I have a few thousand in case you're right. But honestly, what is ADA bringing to the table? The Ethereum tech and ecosystem is rapidly developing. EVERYTHING Cardano is bringing to the table (and more) is doable with Ethereum by EOY. Staking, sidechains, sharding, off-net scaling etc - and most importantly there's ALREADY libraries, dev environments, a whole toolchain for Dapp building. Meanwhile, ADA, EOS and these other shams are still fucking around without even a working product.
The only selling point of ADA is "You can write smart contracts using Haskell! Oh, and we love traps!". Cool story Charles.
how about real estate transactions with a centralized deed database. there can be failsafes and unique address generations so that you won't lose $1,000,000 if you're off by one character
You're an idiot though. Ever hear of Loom? It's in closed beta now - dedicated sidechaining for Ethereum. TOMO is a pajeet imitation, but hey, the more the merrier. And then there's OMG, Raiden, Plasma, the move to Casper etc.
So......ADA BTFO. I'll hold the few thousand I have, just as a hedge, but I'm not expecting much. They just took too long to come to market - Ethereums maturity and lead is WAY beyond the alternatives now. And once supporting projects like Chainlink and Req really drop - GG everything else.
remind me what banks do again
oh yeah, all of those things can be done with smart contracts
I'm using the same investment strategy, buy a few k and see where it goes. Interestingly one of the eth denominations is called 'ada' and some of the team worked on eth and btc so that makes me optimistic.
Eth has very interesting names for it's denominations
you can get some smart contract toilet paper that orders itself from the store in time for you to wipe your ass
This should be a very interesting year then.
Explain how the chip is capable of detecting and identifying anuses?
How does it know if you've completed said task. Wouldn't it still rely on the party to release the funds ?
Bills of sale
I am sure your suppliers will be thrilled with getting paid quickly.