>In a world without cryptocurrencies it's much harder to implement this. You mean the entire history of the World which includes the creation of contracts thou

>In a world without cryptocurrencies it's much harder to implement this. You mean the entire history of the World which includes the creation of contracts thousands of years ago and independent/third parties (courts/legal systems) to determine things like enforceability, legality, breaches and defenses? I'm afraid cryptocurrencies aren't anymore useful or capable of any of those things anymore than say...a tulip. When people refer to "smart contracts" what is actually possible is a specific type of funding contract, in which funds are held in a third party account until the funding amount hits a predetermined level at which point the funds are transferred...no different than kickstarter or gofund me does only cryptocurrencies are not centralized with readily identifiable entities that can be held liable in the instance of a breach. However, everyone is using smart contract as a marketing term to imply something much greater which doesn't exist, basically they are marketing smart contracts as a replacement for lawyers and courts as a sort of ai that can determine if a contract is completed or breached and perfect enforcement accordingly...that is the tulip, and no one is stepping in to correct this misinformation. Even in the crowd funding example, once predetermined levels are reached and finds released, a smart Contract can't enforce anything to ensure the funded party actually performs according to their promises.