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SmartBCH could bring more than just DeFi to Bitcoin Cash.

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Written by   292
5 months ago

Smart contracts can be dangerous tools, but those same tools can also bring new opportunities and ideas never thought possible before. I wrote my previous article warning users to be careful about SmartBCH so that users realize that you only have to use your brainpower to understand what ideas are good and are not worth putting your money on.

Regarding Smart contracts, ideas can be represented as a digital tokens. You will have to decide on your own if x or y idea is worth putting your sBCH into it, but for that, you need to hear out others and let people explain to you the purpose of a token or what is the whole reason for the existence of a specific token. For example, Bitcoin Cash doesn't have a mascot, at least not one that I know of, and as such, you could represent that idea in the form of a token. Would a mascot token be enough reason for you to invest in something? That is something that only you, the reader, could answer, and in the end, it is up to each user to decide what to do with their satoshis.


I do believe in the principle that ideas are what makes money and not just because you have the idea to make money but as a direct result of your concept solving someone else's necessaries. For example, Bezos is rich because he has solved the issue of many customers' problems, finding the products they need in an easy-to-find catalog. After all, the Amazon website is just a catalog of many goods, all in one place, easy to find by customers; customers are happy to pay for the goods and services the website offers.

For the longest time, banks have served as savings custodians with tiny yields because of the Federal Reserve's low-interest rates, so what if a smart contract is created to solve that need? In the banking system, you don't have only products like checking accounts and savings account. And you have other products as well.

And what if I tell you that there are people already working on banking tools that will work with Smart Bitcoin Cash that will bring the same functionality as those banking services but in a decentralized form?

Conclusion.

DeFi on Bitcoin Cash will bring banking version two, and you will see features on other DeFi projects and new features that have never been seen anywhere else. Not to forget, those features will also be tools that the regular user can deploy. I am saying that developers' ideas will be represented as tokens, features, and tools. I could say I summarized all of the previous as brainpower working to obtain financial freedom for the masses.

Of course, all of this will be a reality once we can bridge the sidechain with Bitcoin Cash in a decentralized manner and without the risk of losing funds to a custodian.

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Written by   292
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