Big picture: what is possible with smart contracts?

During this Module, many of our students ask: What is possible with decentralized computing systems that wasn't possible before?

In short: a lot! Here are some things that smart contracts have already made possible:

• Because the code executes everything automatically, there is no need for an intermediary to make a transaction. This unlocked opportunities in lending, borrowing, trading, insurance, etc.
• Decentralized autonomous organizations became a possibility where ownership, compensation, decision-making, and interactions are managed through smart contracts.
• People now can create unique, scarce digital assets and assign immutable, provable ownership to them.
• It's easier to manage fractional ownerships of assets and unlock investments in hard-to-invest large assets (e.g. real estate).