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Transition to Web3 - Course 3 | How Smart Contracts Work

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).
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Rise together in web3