Sometime around the early 1990s, long before the major adopters of this technology, the Gen Z’s started making it into the world, a lawyer who doubled as a computer scientist and cryptographer, Nick Szabo started talking about smart contracts. Unknown to a lot of folks, the term ‘smart contracts’ has been around long before the advent of the first cryptocurrency in the world – Bitcoin. One of the best ways to know what smart contracts are is to understand their origin. But if’ smart contracts’ are the cornerstone on which Defi will work or invariably works, then it only makes sense for everyone to know what they are exactly. The phrase smart contracts might be a tad complicated if you are new to the world of blockchain and crypto asset management.
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