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3232Smart Contracts Are Not as Smart as You Think
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Wed, 23 May 2018 13:00:43 +0000https://www.digit.info/2018/05/23/smart-contracts-are-not-as-smart-as-you-think/Read more]]>Lauded as the future of blockchain, business, and banking (among many other things), smart contracts are undeniably a game changer. They allow efficient supply chain management, financial transactions, and automated payments to take place without intermediaries. But smart contracts, contrary to popular opinion, are not infallible. In fact, according to Amy Wan, the CEO and co-founder of Sagewise, smart contracts are not as smart as you think they are. While it’s true that such agreements provide a certain amount of security by virtue of existing on a blockchain network, Wan believes that “the term ‘smart contract’ may be a misnomer.” As
Lauded as the future of blockchain, business, and banking (among many other things), smart contracts are undeniably a game changer. They allow efficient supply chain management, financial transactions, and automated payments to take place without intermediaries. But smart contracts, contrary to popular opinion, are not infallible. In fact, according to Amy Wan, the CEO and co-founder of Sagewise, smart contracts are not as smart as you think they are. While it’s true that such agreements provide a certain amount of security by virtue of existing on a blockchain network, Wan believes that “the term ‘smart contract’ may be a misnomer.” As