Agreeing that bitcoin currency is for smart people is relatively and absolutely correct. But lets not just say only bitcoin, but every other cryptocurrency out there.

We all know what the crypto ecosystem can do, and the power we can benefit from them.

Just some quick brief characteristics of crypto

• It can never be counterfeited, because of the very nature of the Blockchain Technology of network participants- distributed ledger.
• Decentralized - you don't need permission from anyone to buy, hold or transact, therefore cannot be stopped.
• It is highly portable. It has no weight, smell or physical body. (Money sometimes smells bad). 😁 Some might laugh but its true, so please stop holdind Fiat money on your hands too long.

That's just a few of many,

Now looking on the crypto system and its benefits, let's take an example of Ethereum
•The use of smart contracts
They are just pieces of code - or computer logic - that can run on the blockchain, example
Let’s imagine that John wants to buy Mike’s house. This agreementis formed on the Ethereum blockchain using a smart contract. This smart contract contains the agreement between John and Mike.In the simplest terms, the agreement will look like this: “WHEN John pays Mike 300 Ether, THEN John will receive ownershipof the house”.Once this smart contract agreement has been put into place, it cannot be changed — meaning John can feel safe to payMike 300 Ether for the house.Without the use of a smart contract in this scenario, Mike andJohn would have to pay lots of fees to third-party companies. Including the bank, a lawyer and a house broker.It’s great, right? No more commissions and no more delays to wait to for a lawyer and broker to process the agreement! This is just one of many examples of howa smart contract can be used.Smart contracts are automaticallyexecuted once the conditions of the agreement are met. This means there is no need for a third party, like a bank, a broker or a government.
•• in the Creation of Dapps

To be continued...

Posted using Partiko Android