Originally published at: https://research.muellners.org/role-of-smart-contracts/
Covers features and development of Smart Contracts Abstract The idea of Bitcoin was to enable private digital cash by solving the double-spending problem and thus allowing individuals to transfer money without the need for financial intermediaries (Nakamoto 2008). While Bitcoin aimed to disintermediate the financial industry, the underlying blockchain technology allows for some degree of disintermediation in almost any sector. Any asset or data can be transferred peer-to-peer (p2p) without the need for a ‘trusted’ middleman. “Smart…