The 'Internet of Agreements'
Some say Vinay Gupta is the smartest person you have never heard of...I don’t know about that, but he is certainly worth checking out.
The forward looking paper considers how smart contracts and the blockchain can move globalisation in a more positive direction in the 21st century. The paper considers the evolutionary nature of how technological developments become rolled into everyday life. As far as the blockchain is concerned he concludes that:
‘Simply getting a much higher quality representation of the physical and legal world loaded into computers is an enormous step forwards. In the same way that digital mapping gave us a whole range of new services and occasionally goods, getting existing property rights databases (land ownership, company directorships and similar structures) into a form where computers can easily get at them will allow for all kinds of optimizations.’