[kyloon]

One of the core tenets of decentralized applications is the notion of using programmatic models (i.e. smart contracts) to enforce trust between multiple digital entities that maintain relationships that are often adversarial in nature, which are very common in enterprise businesses – think vendor/client relationship where the obligated parties are bound by legal contracts to fulfill a set of predefined responsibilities where the vendor expects a payment for the services provided to the client and the client expects to receive a reasonable quality of the service rendered by the vendor.

This doesn't mean we should put every legal contracts into the blockchain, but rather implementing blockchain-based solutions starting with the lowest hanging fruit problems that will reduce inefficiencies in the short term. The benefits derived from this will then induce a paradigm shift in how we build businesses and applications that can further leverage the benefits of the increased efficiency (capital liquidity, faster/cheaper transactions, etc.), which will eventually give rise to novel business models and use cases that are not possible and fathomable today.

https://www.wired.com/story/how-the-blockchain-is-redefining...