Ethereum's biggest value-add
We've all heard of Ethereum, but what does it actually do?
What makes it so valuable??
We like to think of Ethereum as the 'If This, Then That' (IFTTT) of the crypto world. IFTTT lets you create automations between different web apps, for example, you can tell IFTTT:
'Every time I add a new file to this folder in Dropbox, log and link to it in this Google spreadsheet.'
Ethereum offers similar automation for your money, using 'smart contracts.' For example, you could create a smart contract that follows these rules:
'If Seb deposits 10 ETH into my crypto wallet as a downpayment, give him a loan of 20 ETH and request interest payments of 0.5%, every 28 days.'
Which is neat! But loans are just the tip of the iceberg...they don't paint the full picture of how this technology can be applied.
Here are some rapid fire examples of how smart contracts can be applied to existing Web2 products:
Earn an NFT when you become a top 1% listener of an artist on Spotify.
Earn an NFT every time you finish a series on Netflix.
Earn crypto when you keep your screen time under X hrs per week.
There're so many ways this sort of functionality can be applied!
We dug into Ethereum further in our first edition of Over The Shoulder - where we show you how to research and value a different crypto token, every second week.
Keen to learn more?
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