/biz/ - Business & Finance

>>18697960
>>18698044
>It's because the implications of it all are not very... physical. Or tangible. We don't have a relatable example yet. In fact, even those of us who understand it on a philosophical level are only that far.
Both of you guys need to get off your giraffes and humble yourselves. These applications have been discussed for at least 3 years since I've been on this shithole of a board, and most definitely longer before that when ETH was just taking off.

Smart contracts == contracts that are automated and trustless. Trustless == You can't weasel your way out of a commitment. Automated, self explanatory.

What this means is that if you have a deal with someone that they'll do something for you if you do something for them, you don't need to worry about them walking away from their end of a bargain.

Real life example: Insurance. Insurance companies will fight tooth and nail to get out of paying their dues. This happens EVERY SINGLE TIME there's a hurricane in my area where car insurance companies will delay, give a hard time to their customers, or flat out not bother. Medical insurance companies too will fight tooth and nail not to pay what the contracts says they'll pay. Smart contracts address this by removing the human component out of the equation. As soon as confirmation that X,Y,Z factors are in, boom, automatic payment. You should understand Chainlink plays a role here.

Real Life Example 2: New payment schemes. Smart contracts are essentially "If X, then Y". As long as you have the inputs and outputs, someone can get properly compensated for their work. Ari Juels' lab has someone working on a project that uses satellite data to monitor select Forests with the intention of plotting their growth and if they meet a certain standard, the local planters and ones responsible for maintaining the forests will get compensated. No need for human intervention.

Continued...

>>17948617
The dude worked on Paypal, drove Electric car development by leaps and bounds, and created a company that reuses rockets.

Literally everything he's doing is to push him closer to his vision of creating his Mars colony. He's a goddamned hero, visionary, and pioneer.

Realize that your mindset would also prevent the crypto world from getting to where it is now.

>>17581088
This. We have a newly decentralized computer and so people are going to create decentralized variants of all big name applications among small. Decentralized Youtube, decentralized Twitter, decentralized Amazon, decentralized Uber, etc etc. The allure of decentralizing each of these applications is that, for people who create and support those platforms, the decentralized versions allow you to more evenly distribute the wealth because it'll be run by smart contracts, as opposed to human entities.

The possibilities are going to be endless.

>>17559867
https://blog.chain.link/44-ways-to-enhance-your-smart-contract-with-chainlink/

The fact that he's selling so much this early should tell you he's not totally clear on the project's future. No whale who knows the vision of Chainlink would be selling. Read the above and read everything else on the blog. We're looking at a world where a man's word is meaningless. Everything will be put into Smart contracts. You want your friend to buy something for you and not walk away with the money? You put it in a smart contract. You want to make sure you're getting paid on time and don't have to worry about employers bullshitting you? Timesheets will be logged on to a smart contract does automatic payouts. On top of that, every single big name site will have a new decentralized counterpart that will be more profitable than ever for the creator or worker. Think decentralized Uber, same thing, but power by smart contracts. Think Youtube, powered by smart contracts and less oppressive to Youtubers. And so on and so forth. With smart contracts, you can RECREATE COMPANIES and since they're smart contracts and not entities, the wealth will be distributed far more than ever before. And this all needs Chainlink.

>>15780179
Dude, you need to open a crypto wallet and test out how to move crypto. This is revolutionary tech. Find a relative of yours that lives in a different country and experiment how long it takes to transfer money between you two (from you to them or vice versa, doesn't matter). Then test out how long it takes with crypto. And I spoil it for you, for the banking system, it takes DAYS, for crypto MINUTES. For some currencies, SECONDS. And check how much it costs to do the transaction. I did a $500 transfer to someone in a 3rd world country, of that $500, they took $20. Had it been crypto, It would have cost me $0.20. THIS RIGHT HERE, the ability to circumvent the entire banking system for fraction of the cost, is insanely disruptive and is forcing the banking world to adopt its technology to leverage it before they're rendered obsolete.

You need to swallow your pride and start paying attention to WHY some of these people on this board are downright obsessed with their projects. And you need to start reading up on what gives fiat currency their value and what gives the bitcoin its value.

Blockchain technology is here to stay. There's a lot of manipulation and suppression to hide its value before its time comes so they can maintain their wealth. If you do not utilize this board and learn to harness this tech, you are going to be left behind.

>>15780150
I think it's purely ignorance.