Nick Szabo 🔑 on Twitter: "No. We already have several words for that: "program." Also "software". Or "dApp" if it's distributed. You need not and should not abuse the phrase "smart contracts" to refer to programs that neither perform obligations, verify such performance, nor control assets.… https://t.co/R4LCDhvObB"

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‏ @NickSzabo4

No. We already have several words for that: "program." Also "software". Or "dApp" if it's distributed. You need not and should not abuse the phrase "smart contracts" to refer to programs that neither perform obligations, verify such performance, nor control assets.https://twitter.com/willwarren89/status/1017606991655522305 …

Will Warren @willwarren89

"Smart contract" is the term used to help laymen understand the concept of a state machine. Ethereum smart contracts are tiny state machines that can be strung together to create complex systems. Sometimes these systems handle or manipulate digital assets. https://twitter.com/udiWertheimer/status/1017428054300397568 …

9:37 PM - 12 Jul 2018

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12 replies 97 retweets 408 likes

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1. Felonious Farnsworth‏ @felfarns 12 Jul 2018
  
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  How do you expect to raise VC money with that attitude?!
  
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1. Matt (Vengar)‏ @Vengar613 12 Jul 2018
  
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  Wellllllllll-put.
  
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1. Dan Plante‏ @Daniel_Plante 12 Jul 2018
  
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  "Software" implies something that might be run on Windows 10. I think you grok the massive attack surface of it and any app that runs on it. A state machine is valued because of its provable limits. #Bitcoin is a state machine. https://en.wikipedia.org/wiki/Finite-state_machine … eg, Boundary Scan.
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