[BaronSamedi]

The term "smart contracts" is highly misleading. It is feeding the hype and deeply confusing people. "Smart contracts" are neither smart nor contracts. They are instead very limited scripts triggered by blockchain events.

All the use cases I've seen depend on external input to be even moderately useful. But once you depend on unverifiable and potentially fraudulent external input, the supposed unique value of these scripts is lost. The notion of "oracles" just moves the problem elsewhere so it can be dismissed.

When and if we see profitable uses of these block-chain scripts then I would be glad to revisit this assessment. Until then it looks to me like a classic case of a technology looking for a problem.