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So.. it’s used for sports gambling? Actually, this might be a very good use case for crypto currencies. Guaranteed payout, based on a triggered scenario.
by blackrock 6y ago
So.. it’s used for sports gambling?
Actually, this might be a very good use case for crypto currencies. Guaranteed payout, based on a triggered scenario.
- everfree 6y agoGuaranteed payout on triggered scenario is one of the big promises of smart contracts. * Sports betting where the contract itself pays you the winnings. * Insurance where everyone pools together as peers, and the contract arbitrates payouts (think simple-to-arbitrate things at first, like flight insurance or credit default swaps). * Financial contracts like futures and options, but with arbitrary asset classes. * Open hedge funds where someone trusted manages a large portfolio, and the contract awards them with a pre-defined bonus based on performance. As long as an asset can be represented digitally, it can be awarded based on arbitrary, turing-complete conditions, and any programmer in the world can write those conditions with no permission from any bank and with no legal team. Money legos.