What do you think about the future of Smart contracts?

[Abiky]

Blockchain technology has paved the way towards the development of various "smart contract" platforms such as: Ethereum, Ethereum Classic, Lisk, and so on. Because of this, new ways of implementing autonomous applications without the need of middlemen or human intervention have emerged.

While this field is new and experimental, it would might become revolutionary up to a point where major banks and corporations use the technology for various tasks such as: automated banking, issuance of assets, property ownership, and more.

Nevertheless, I would like to know what do you think about the future of smart contracts? Who will become the leader in this evolving field? Will it become used in the mainstream world?

If it were me, I'd say that Ethereum will be the future of smart contracts and the leader among other platforms, becoming used in the mainstream world, especially with corporations and businesses alike. The recently formed Enterprise Ethereum Alliance may change things for the better.

Still, would like to know your thoughts about this. 

[ifinta]

Es exists other, newer possibilities: Microservices i.e. ( See HEAT: https://github.com/Heat-Ledger-Ltd/heat-dev-kit )

[Abiky]

Es exists other, newer possibilities: Microservices i.e. ( See HEAT: https://github.com/Heat-Ledger-Ltd/heat-dev-kit )

Awesome. I've never thought that something innovative like this, would've become a reality. Thanks for sharing this. The microservice feature looks quite interesting, as well as the HEAT platform itself which claims to handle an average of 1000 TPS.

While HEAT's price is low, it could be well worth the investment if it becomes practical in the mainstream world. Just my opinion.

By the way, I'm still open to hear thoughts about the future of smart contracts, and if it may become used in the mainstream by big companies and businesses worldwide. 

[christie]

I believe smart contract is the trend and has the power to change many things

[alani123]

Smart contracts are good for games but no real life applications and nothing close to actual contracts.

A funny read on why "smart" contracts aren't even close (and likely never will be close) to actual contracts:
https://www.reddit.com/r/Buttcoin/comments/4p05tt/actual_contracts/?utm_source=mweb_redirect&compact=true

[Munti]

I have no doubt smart contracts are the future. Actually, I believe smart contracts will be the main reason crypto will go mainstream. Faster or cheaper transactions are not enough for ordinary people to change their habbits. But smart contracts offer solutions that have never existed before.
Etherum is one of the interesting platforms, but has a long way to go yet. If they succeed in fixing the problems with the platform, they have a potential to become dominant sometime in the future. In the meantime coins like BitBay allready have fully functional software and can start building a position in real markets. I expect we will see many smart contract platforms carving their own niche, and that many will be invisible to the end user. It will all be under-the-hood.

[Abiky]

Smart contracts are good for games but no real life applications and nothing close to actual contracts.

A funny read on why "smart" contracts aren't even close (and likely never will be close) to actual contracts:
https://www.reddit.com/r/Buttcoin/comments/4p05tt/actual_contracts/?utm_source=mweb_redirect&compact=true

Interesting. This article about Smart Contracts is well worth reading. I had been wondering at first, why there hasn't been mainstream usage of Smart Contracts, which explains why many of them haven't took off in the real world.

It can be said that platforms that deliver these type of contracts are just pure hype and speculation nowadays. I mean, the technology looks promising but there hasn't been any use case in the mainstream world for it, as far as I know. But the day when huge companies adopt these contracts, it will be such where the technology can really take off in usage and popularity.

Only time will tell if this will happen or not. 

I have no doubt smart contracts are the future. Actually, I believe smart contracts will be the main reason crypto will go mainstream. Faster or cheaper transactions are not enough for ordinary people to change their habbits. But smart contracts offer solutions that have never existed before.
Etherum is one of the interesting platforms, but has a long way to go yet. If they succeed in fixing the problems with the platform, they have a potential to become dominant sometime in the future. In the meantime coins like BitBay allready have fully functional software and can start building a position in real markets. I expect we will see many smart contract platforms carving their own niche, and that many will be invisible to the end user. It will all be under-the-hood.

I agree with you, in the sense that smart contracts are the future. While they haven't prove its real use case in the mainstream world, I believe that it may gather the attention from businesses and corporations alike when the technology matures enough. Ethereum, while it has faced many issues, it has emerged stronger than ever, and with the recently announced Enterprise Ethereum Alliance, things will be better for it.

From Ethereum, to Ethereum Classic and Lisk, there are a wide array of platforms to build Smart Contracts upon them. The platform that will succeed will be such where it gets major support and acceptance from the mainstream world. Just sharing my thoughts. 

[alani123]

It can be said that platforms that deliver these type of contracts are just pure hype and speculation nowadays. I mean, the technology looks promising but there hasn't been any use case in the mainstream world for it, as far as I know. But the day when huge companies adopt these contracts, it will be such where the technology can really take off in usage and popularity.

Only time will tell if this will happen or not. 

It's been quite some time since ethereum's smart contracts were out for the first time came out and already a disaster was caused through the biggest project with smart contracts. I don't think they're of any use to companies.

[Abiky]

It's been quite some time since ethereum's smart contracts were out for the first time came out and already a disaster was caused through the biggest project with smart contracts. I don't think they're of any use to companies.

Yes. I believe that the field of smart contracts needs some time to mature, as it is still full of security issues and flaws, that would prevent it to become used in the mainstream world, anytime soon.

Since they're immutable, it would be nearly impossible to make changes to the smart contract's code, limiting the ability to improve such contract's security mechanism whatsoever. This would make it harder for companies to adopt smart contracts, as they would need to think twice before publishing them into the blockchain.

However, as I've seen that Ethereum violated the principles of immutability with The Dao hack, then they could make a way to alter the immutability of smart contracts as well. Only time will tell if this field will take off into the mainstream world or not. Just my thoughts. 

[MacT]

 This is one of the paths to public Ai, running on golem smart contracts

[g___]

I believe that the field of smart contracts needs some time to mature

agreed.

more so, the notion of taking something complex and making it so simple that anyone can use it / understand it. the learning curve i believe is one of the biggest hurdles for wider adoption of anything crypto related.

[Abiky]

 This is one of the paths to public Ai, running on golem smart contracts

Yes. With Golem, the possibility of having super computers powered by the blockchain in a decentralized manner, would be completely revolutionary with the combination of smart contracts. I could imagine a world where everything operates in an autonomous way with absolutely no human intervention at all. From self-paying cars, to automated taxis, the possibilities are endless.

Nevertheless, the field of smart contracts may become widely used in the mainstream world if it gains enough traction. Just my opinion. 

[benthach]

Blockchain technology has paved the way towards the development of various "smart contract" platforms such as: Ethereum, Ethereum Classic, Lisk, and so on. Because of this, new ways of implementing autonomous applications without the need of middlemen or human intervention have emerged.

While this field is new and experimental, it would might become revolutionary up to a point where major banks and corporations use the technology for various tasks such as: automated banking, issuance of assets, property ownership, and more.

Nevertheless, I would like to know what do you think about the future of smart contracts? Who will become the leader in this evolving field? Will it become used in the mainstream world?

If it were me, I'd say that Ethereum will be the future of smart contracts and the leader among other platforms, becoming used in the mainstream world, especially with corporations and businesses alike. The recently formed Enterprise Ethereum Alliance may change things for the better.

Still, would like to know your thoughts about this. 

smart contracts?
https://en.wikipedia.org/wiki/Nick_Szabo

it is just a hype scam

[CraigWrightBTC]

 This is one of the paths to public Ai, running on golem smart contracts

Yep and the other altcoins ETH and ETC they will has good future of smart contract
although everything depend on the developers to make innovations in their network
all of them has large of comunity and investors be compared with other coins.

[densuj]

I believe that the field of smart contracts needs some time to mature

agreed.

more so, the notion of taking something complex and making it so simple that anyone can use it / understand it. the learning curve i believe is one of the biggest hurdles for wider adoption of anything crypto related.

Yes, it is needs long time to mass adopt smart contract on their real life (business, entertainment, and other)
even bitcoin is still not adopted by all of people because not many people who understand about it,
but sometime in one condition will many people around the world adopt smart contract and it had started on ethereum blockchain although it is still just a little projects.

[dinofelis]

 This is one of the paths to public Ai, running on golem smart contracts

Yes. With Golem, the possibility of having super computers powered by the blockchain in a decentralized manner, would be completely revolutionary with the combination of smart contracts. I could imagine a world where everything operates in an autonomous way with absolutely no human intervention at all. From self-paying cars, to automated taxis, the possibilities are endless.

In fact, I always wondered how the Singularity could take place, because how could machines, without us realizing, take over control and command of society ?  I think that this is a way in which it can happen, without us even noticing before we're cattle.
Crypto, and especially, smart contracts, were the piece that was missing for the machines to have the ability to take over society's control.  It would be fun to see machines bribing politicians until they act the way the machines need them to act, using crypto.

[giveen]

When smart contracts was first introduced i didn't care about it much nor did any research on it as i felt it is just a market strategy. When i went deep in smart contractsbi actually found out that not bitcoin but ether can be used for future payments as it acts like an escrow in simple words. Smart contracts can also be easily adopted because as far as i have heard they can even work offline

[Abiky]

smart contracts?
https://en.wikipedia.org/wiki/Nick_Szabo

it is just a hype scam

Probably. The way I see them, they're just ordinary applications with the only difference being its use on the blockchain, where it eliminates the middlemen. But, I think that it may have a hard time becoming adopted in the business world, as it is full of security issues, not to mention that they're also immutable (which make smart contracts harder to update, unlike normal applications).

Only time will tell where this will be heading at.

Yep and the other altcoins ETH and ETC they will has good future of smart contract
although everything depend on the developers to make innovations in their network
all of them has large of comunity and investors be compared with other coins.

Maybe so. It will all depend on the level of adoption these smart contract platforms will have over the long term. Those who could provide solid development and long term stability may prevail. At the moment, I believe that the concept is full of hype, but it will soon show its true value and purpose when it matures enough in this rapidly evolving world.

As far as I can tell, Ethereum will have the lead over smart contracts in the long term, unless ETC proves to deliver better features and stronger network than its original counterpart. The monetary policy of ETC looks interesting, and may seem to follow Bitcoin's footsteps towards becoming a scarce digital fuel for smart contracts.

Nevertheless, we would have to wait and see what happens will happen in the future to this concept. Just my thoughts.