I'm lost here. What then is the right name for it since cryptocurrency and smart contract didn't best defined it?
There was a comment in my room where we discussed the homework in small groups that "cryptocurrency" is actually the wrong term for the whole thing, as currencies are by definition issued by states and managed by central banks. In response, the moderator said that smart contracts would not be appropriate either, because they are neither smart nor contracts.
Well currency is by definition always issued by a state and managed by a central bank while money is simply something to pay things. Can be done with an official currency like dollar but also with other things like crypto coins or gold.
Regarding Smart Contracts…we’ll this is something I have to dive in myself to really understand it. 🤓
😀😀 smiles