By Daniel W. Haffner, Bloomberg NewsThe launch of a new generation of smart contracts, a “networked smart contract” platform that lets users build and interact with smart contracts built with Ethereum, is on track to be the biggest financial event of the year.
The $3 billion in ICOs and $2.6 billion in venture funding that will be announced next week at a conference on “Blockchain technology and the financial world” by Citi and Sequoia Capital is a testament to the fact that smart contracts are the next big thing.
The blockchain is a set of computer codes that are decentralized and untraceable.
It has the potential to disrupt everything from money laundering and online fraud to health care and health insurance.
But it also offers powerful security features that have become the envy of companies and individuals, including smart contracts that can be programmed to do things that traditional financial transactions cannot.
It’s the technology behind bitcoin, a form of virtual currency that can help consumers, businesses and governments make online transactions faster, safer and more efficient.
The first smart contracts to be built using Ethereum were launched in the U.S. and Europe this year, including a version of the popular trading platform, iQiyo.
The platform lets users buy, sell, store and exchange digital assets.
It also provides a way for users to purchase and trade bitcoin, another form of digital currency that has been under scrutiny.
“The fact that Ethereum is being built on top of Ethereum is a sign that there is a significant appetite for smart contracts,” said Peter J. Grosvenor, head of digital finance for the U