A lot of people are taking this very short term oriented view, where a token helps them raise money to create something. But i think that in the long run, we're going to see a lot of people regretting that. I'd also say that's the biggest problem i see. A big problem is that everyone wants to attach a token. And so we fundamentally have to treat every single thing deployed to the block chain as open source code. So any sort of profit model, any sort of token that doesn't need to be there, can be removed,. and maybe will be - if indeed it's not necessary.
In this episode, we dig into what the term smart contract means with our guest James Prestwich. First introduced in 1994 by Nick Szabo, smart contracts have inspired whole ecosystems of companies and projects to start thinking about blockchain in much bigger terms.
We explore what the term 'smart contract' means, where it comes from, some use cases and some of the new challenges that come along with it.
Follow James on twitter @_prestwich