Harry 
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hey bloomies Bloom Academy is back with smart contracts whether you're new to crypto or just curious about the future of transactions smart contracts are revolutionizing the way we do business you definitely won't want to miss this so let's Dive Right In all right imagine you want to buy something from a vending machine you put in the money press the button and get your Snickers no questions asked that's kind of how smart contracts work they make trading automatic with no middleman or hassle involved in the simplest terms a smart contract is like a deal between two or more people but instead of being written on paper it's coded into the blockchain once the terms are met it executes itself automatically no human needs to push any buttons or check if everything's right the technology handles it and if something goes wrong during the deal no money gets sent simple as that plus once smart contracts are written into the blockchain they can't be changed ever that means no one can mess with the agreement the contract just sits there waiting for the conditions to be met and when they are it completes itself no lawyers no back and forth no delays now if you think it's just about crypto you're in for a surprise smart contracts are already changing the way people do business trade assets and even play games no joke these things are showing up everywhere from Finance to real estate to Logistics let's say you're buying a house online with crypto a smart contract can automatically process your payment and notify the shipping Department to send your stuff to the address transaction done these contracts might seem new to most people but they were actually first dreamed up in 1994 way before Bitcoin even existed by a guy named Nick Sabo when smartphones weren't even a thing he came up with the idea that you could use computer programs to enforce contracts automatically fast forward to today and that's exactly what smart contracts do on blockchains like ethereum now there are some downsides since smart contracts are coded stored on the blockchain and stuck there forever any mistake in the code like a typo or a bug means you're game over it can't be fixed and because the contract runs on code if someone finds a loophole they could exploit it but overall the benefits are way bigger smart contracts make things faster more accurate and they cut out the need for trust between people who don't even know each other no more wondering if the other person is going to hold up their end of the deal the contract takes care of that for you so whether you're into crypto gaming or just curious about how the future of business might look smart contracts are definitely worth paying attention to drop your thoughts in the comments make sure to subscribe for more cool content and I'll see you in the next video bye
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