Ethereum, Information Technology that Could Transform Law, Finance, and Civil Society

Ethereum’s developers believe their project will lead to the proliferation of programs they call “smart contracts,” in which the terms of an agreement are written in code and enforced by software. These smart contracts could carry out the instructions of a complex algorithm based on data feed—such as a stock ticker. They could facilitate practically any financial transaction, such as holding money in escrow or dispersing micropayments among autonomous machines. They could be used to create a peer-to-peer gambling network, a peer-to-peer stock trading platform, a peer-to-peer social network, a prenuptial agreement, a will, a standard agreement to split a dinner check, or a public registry for keeping track of who owns what land in a city.

Transparency and freedom from government busy-bodies.  Whats not to like.

via Here Comes Ethereum, an Information Technology Dreamed Up By a Wunderkind 19-Year-Old That Could One Day Transform Law, Finance, and Civil Society – Hit & Run : Reason.com.

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