A corporate, securitization and data compiance lawyer based in Beijing China. And, at the same time, also a partime developer of web3 project.

The most valuable attribute of Ethereum lies in its capability to run smart contracts. By means of touring-complete programing languages and EVM tech, strangers can set up economic relationship or enter into business contracts based on common consents of Code (or smart contracts) instead of trust of the counterparty’s personal characters.

Currently, most wealthes of humans are book-entry interests, e.g. bank deposits, real estates, stocks, bonds, beneficial rights of trusts…even for the prepaid membership of Costco, NetFlix…

To my understanding, the most valuable application field for Ethereum (comparing with BTC) is to make book-entry system for the above said interests. Using smart contracts to define rules, conditions, procedures, and automatically control the legal consequences of transaction concerned.

So that all claim rights can be changed into disposal rights, i.e. right holders may directly excercise their rights without cooperation of obligers or any third party like trustee, proxy or agent, and the ultimate result thereof (i.e. change the book-entry records) can be automatically implemented by predefined and agreed smart cantracts.

Code is Law. In some sense, only when computer programs can automatic control the real world transaction of human wealth, then, the slogan will actually realized.

Just like you buy a coke from a vending machine, you may sell or purchase a piece of land, a private company’s equity, or a more complicated financial instrument without worry about whether the counter party may default… as long as the smart contracts are duly defined, deploed and signed.

I think this should be the web3.0 version of the world with respect to the wealth, money and properties.