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You could send money to this smart contract. You can send money to that wallet. And you don't own the money anymore. Now, a piece of code owns the money. And that, I think, is a very underappreciated breakthrough, because that piece of code is an entirely new entity; it's not a person; it's not a Delaware C corporation; it does not exist inside a jurisdiction; it's not in Delaware; it's not in India; it's not in China; it's not in Europe and the EU; it just lives in the
cloud.
Avichal Garg
Software Is Eating Capital Markets; Smart Contracts Can Custody Billions of Dollars
20VC: Why Crypto is Software Eating Money, Why Crypto Firms Will Outcompete Traditional Venture Firms, How To Price Tokens and When To Have Them, DAOs: How Are They Structured and What Makes One Successful with Avichal Garg, Co-Founder @ Electric Capital
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