Increasing global GDP by 5 percent: bringing blockchains to the global economy.
By Lawrence Lundy-Bryan, Partner & Head of Research We are excited to announce our investment into [Agoric] to support the team to bring security, usability, and interoperability to smart contracts. In the global economy, establishing trust costs up to 35 percent of GDP. Smart contracts are key to changing the way trust is established in the economy. Automating and decentralizing trust-establishing processes could increase global GDP by 5 percent and grow global trade by 15 percent according to a recent WTO report
Realising these transformative benefits requires a new approach to smart contracts. Today smart contract platforms are insecure, hard to use, and limited to specific networks. Agoric’s interoperable secure distributed smart contract platform is foundational to the Convergence Stack and is crucial in supporting an open data economy.
1 - Security 2 - Usability 3 - Interoperability more