Your smart contract is only smart inside your Blockchain.
As soon as you use it for anything outside of it, you have the same issue.
How do I proof to someone else that I did what I should have done to get paid? By trust. Your smart contract can't verify that I did my part of the contract if it is outside of the Blockchain.
So what did you win?
Nothing.
Now you can work up a network of trust but you know this concept is much older than crypto and doesn't need a Blockchain.
And certain blockchains are looking for trust worthy entities to decentralize their own blockchains.
Now you even splitting up your trust in independent trust areas.
Do you know what trust system already exist? Which unites a lot of people? And is based on PoS?
Our current fiat and geopolitical system. Is it perfect? No. But we develop this system for a long time now
As soon as you use it for anything outside of it, you have the same issue.
How do I proof to someone else that I did what I should have done to get paid? By trust. Your smart contract can't verify that I did my part of the contract if it is outside of the Blockchain.
So what did you win?
Nothing.
Now you can work up a network of trust but you know this concept is much older than crypto and doesn't need a Blockchain.
And certain blockchains are looking for trust worthy entities to decentralize their own blockchains.
Now you even splitting up your trust in independent trust areas.
Do you know what trust system already exist? Which unites a lot of people? And is based on PoS?
Our current fiat and geopolitical system. Is it perfect? No. But we develop this system for a long time now