Smart contracts - Simply Explained

What are smart contracts and what do they have to do with blockchains and cryptocurrencies? Well, let's find in plain English!
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[@salmanrashid3392]

Thanks for the overview Simply Explained. I love how easily you were able to simplify the concept for someone who had no idea about smart contracts and their value proposition. Your effort is greatly appreciated.

[@babafemiojo8091]

The explanation in this webinar is quite good, simple and clear. I hope it's something that will be worthy of doing with no regrets.

[@thoyda]

This is a great video - Thank you. Very interested to see how this progresses and all of the use cases that will emerge, particularly in security of health records

[@SandalinaEvi]

Beautiful explanation. So clear and to the point. THANK YOU!

[@MrNudgit45]

Thank you! Most understandable crypto explanations I've heard. Much appreciated. Keep up the good work.

[@jackbenhaim9197]

Clear as crystal. Enjoyed every moment of it. Great job. Thanks

[@chadwickburks2478]

Clear, concise, and amazing. Thank you for making this.

[@blaze9670]

yes

[@syncrovanCos]

After few hours of searching and watching videos, this was the first I've really get it right and easy to digest from A to Z. Still need to learn,but it's a good start. Thank you !

[@hulk7272]

I just came here after watching a 30-minute video. Needless to say, I got more out of your 4 minute video than the other which I watched several times and STILL came away with ???? "If you can't explain it simply, you don't understand it well enough." - Albert Einstein.

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That’s why it’s simply explained....lol I’m a new sub.

[@Olsenator]

Well you can always go back to dog and cat videos like I did

[@kamui4708]

Fr i hate it when someone explain it over 5 minutes just for a one word

[@IronWillVision1111]

0:36 0:42 0:43 0:43 0:44

[@upplsuckimcool16]

Finally a very clearly spoken and easy to understand video on this subject. I've watched three other videos on this thinking "how does this matter it seems very normal and not impressive" When i watched 2 minutes of your video I thought "HOLY SHIT THIS IS BIG!"

[@Zimo0o]

This is the best video I have ever seen explaining smart contracts. Perfectly clear, concise and to the point no bs Thank you so much, subscribed!

[@anonsolaris]

Nicely delivered & explained. Appreciated the content, thank you.

[@SaifulIslam-jt1dz]

This is really well explained, the drawn examples are fundamental, the script is good too! Thanks a lot!

[@mikefifigao5507]

Thank you for your creation. Very clear and concise explanation!!

[@codygonzalez5131]

Very informative and at the same time capacious! Excellent video, subscription and thumbs up!

[@sambakatepalli9199]

Dear Savjee. Your videos are very informative, enlightening and most importantly very easy to understand. Even a lay man can understand the technology if teacher can be like you. Thank you very much for the videos. Please do some videos on Decred, EOS, NEO, GAS, Power Ledger. And please do videos on ICOs that are introducing new Technologies. if we understand the technology at ICO level, it is easy for us to decide on worth of it to invest.

[@jasseniyalorie2859]

Never thought that this expertise would expand. I learned a lot by watching this video, thank you.

[@abhinandvalasseri1294]

Awesome bro! Nice and clean animation plus simple explanation This helped me do my seminar on block chain

[@dancorwin9232]

Wow, smart contacts have always confused me but now they make perfect sense!! Thank you so much for this!

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?

[@helindeelaka9362]

Thank you for the awesome explanations ❤️👏🏻🔥

[@HendraWijayaDjiono]

You explained very well and clear! Thanks alot!

[@freedomlifestylewithads708]

Amazingly well explained!

[@yoshitaarora4180]

This was a great explanation. Thanks for the video!

[@justmeonthebeach]

This is as clearer as it can be cleared... thanks!!

[@pambomeyieemy8394]

THANK YOU !!! I HAVE MY EXAM TOMORROW AND THANKS TO YOU I UNDERSTAND WHAT I WAS STRUGGLING TO UNDERSTAND FROM MY PROFESSOR

[@aaron_trice]

What school are they teaching you about blockchain and smart contracts?

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[@aronfontenelle4145]

these videos are really insightful exspecially now so thank you

[@huyhoang752]

The contents you put in these videos are so AMAZING! Please keep going! :)

[@ambertay9141]

Smart contracts are awesome. Ethereum, NEO and now Cardano - I'm loving the competition and innovation in this field! Smaller companies like PolicyPal Network and Propy are also doing a great job in bringing in smart contracts to increase efficiency and lower cost in their respective industry (insurance & real estate). Can't wait for more innovation in this area :)

[@corectorul8560]

And Elrond that launched Smart Contracts before Cardano and let the possibility to write them in any language that can be compiled to WASM (easy for Rust, C/C++ devs, but also possible for other programming languages).

[@Sir_Leelord]

Cardano is finally launching smart contracts this September, but don't forget that Flare will also be using them, and will add smart contract capability on the XRP ledger too. interesting times ahead.

[@dreerable]

ETH 2.0 will be King

[@Prodelem]

@@dreerable Lol good joke right there

[@dreerable]

@@Prodelem it’s king now so your the joke

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This explanations are lovely thank you

[@marquezFTW]

This is the best crypto channel on youtube hands down. Thanks for all your videos!

[@severuskein1809]

Loving your channel. Subbed

[@subrock007]

Superb explanation in a layman's terms. Thanks for the introductory video.

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The contents you put in these videos are so AMAZING! Please keep going!

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?

[@perf5432]

Hello, great video, easy to understand. However, I always wondered how can smart contracts could replace things like Airbnb and Uber in the case of a complaint. In those cases, the third party can be the judge. How those situations are handled in smart contracts ? Would love to understand this to fully trust the concept of smart contracts. Cheers.

[@dwaniscool]

Thank you! This was very helpful!

[@GateHacker1]

You killed it with this one sway!

[@MrMightyBeans]

Very informative. Thank you kindly.

[@dsouzaedson]

Great explanation. Thank you!

[@Pensive_Impact]

Thank you so much, very good and concise explanation!

[@dgutte]

Great stuff, well explained

[@HuGo-wp4cp]

Bro your honestly best at explaining stuff. Chur

[@danfloawe]

Thanks for the explanation 👍

[@normangrochowski6972]

Very Good, Precise, Easy to Understand presentation, of what Smart Contract entail. Thank you

[@yashpandey381]

appreciate the explanation. better than most..

[@every-thing-short]

Thank you so much for explanation

[@Beardedlady71]

Wow. 4 minutes and now I understand smart contracts. Great analogy with Kickstarter example. Thanks!

[@elielzinsou89]

Thanks a lot for your explanations

[@scotthester2189]

very helpful, Great job. Keep up the good work

[@rfarchives3320]

Great video, wonderfully explained

[@soap4890]

Best video on smart contracts.

[@dav0625]

Thank you for this clear video.

[@omidakbarian2996]

Thank you for this useful content

[@bitcoinlaunchpad4575]

Love your vids! Simple and super informative! Go a great new video idea for you... Sharding! Would be great if you could help a vid on this topic. This is the future for blockchains and understanding what sharding is would be greatly beneficial for your audience. Keep on making brilliant vids! Thanks

[@neyudn7896]

Great job, easy to understande with practical example

[@faustin289]

"A smart contract is a small program stored into a blockchain." Genius, I will remember that. Thank you!

[@list9016]

whats wrong with that explanation?

[@RameshP-ds4xt]

Great vid. Simple explanation and great Content !!! Sub'd !!!

[@samuelaustin9217]

Thank you. Your videos are very easy to follow and understand. I am showing them to all the younger generations in my family so their understand how the future of commerce and payments will be.

[@lakshyagoyal5560]

Great video and very well explained too!! One thing that I was a little confused by though is, how doesn't someone make sure that the actual smart contract that someone creates is trustworthy? Would a user need to go in and read the 'terms' (aka code) of the contract to be fully sure what the contract is doing?

[@hsc587]

Also interested in what mechanisms there are to verify whether the smart contract has been broken or upheld from inputs in real life, like if I fund something on kickstarter ensuring that either you get the product or you get refunded.

[@oliverslazdins8237]

​@@hsc587 Imagine this future scenario, its 2050, You enter a list of shopping items you need for the next week into Your robot, this information gets stored on a blockchain through a smart contract, so the robot goes through the city during the day visiting various vendors collecting the items and paying for them with your money/crypto. The vendors see the smart contract existing on the decentralized blockchain, so they hand out the merchandise and receive an immediate payment, so the contract gets safely and transparently executed.

[@digio47gmail]

Wow, this video is awesome! Congrats

[@HusbandsCanCookToo]

love your content. so simple

[@Yadiel458x]

The best explanation!

[@v.s.s.s2960]

I liked your video so much... Very useful. Please keep a course on this blockchain with certification.

[@ssoumen95]

Extraordinary explanation

[@mrmilmont]

Simple and Clear!

[@krishnanrastogi8386]

Such a wonderful explanation .

[@pranavgupta2129]

Really good one and very easy to understand. Thx

[@jasonmartin7758]

Thank you! Very clear explanation. There are some interesting ICOs that will offer smart contracts suck as DIW Token, Concierge and Gilgamesh

[@maaifoediedelarey4335]

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[@Tblaq]

This is gold 🔥🔥🔥🔥

[@mubafaw]

Solid explanation 👍

[@santosharakere]

Excellent video. Thanks.

[@beroecaaaa]

Awesome explanation!

[@qualityperso6721]

Very well explained

[@sevarchy]

Great video, great example.

[@mohammed_saifullah]

Explained very well

[@MrShinzen]

Your videos are very clear. Thanks for the subtitles in Italian!

[@simplyexplained]

Thank you! Oh and don't thank me for the Italian subs, that is entirely powered by the community! So props to them for creating the subs and submitting them to me ;)

[@war2209]

a great video thanks for explaining

[@williamhernandez8526]

great videos! Thank you.

[@yyndsai]

Great Explanation

[@effexon]

Whoa, more I learn building blocks of internet during 90s, more amazing. Majority of society were raving about first online games ,getting any ISP, learning to use modem commands, when these people were researching 2000s, 2010s internet necessities in universities.

[@tresafm]

Excelent, and I'll use this video on my classroom everyday.

[@simplyexplained]

That's awesome! Spread the word!

[@tomluna1201]

Thank you, everyone was talking about smart contracts I had no idea what they were talking about.

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?

[@alisalloum629]

thanks, great video

[@alecdelu83]

amazing video, thanks!!

[@aihear]

You are really great. Thank you so much. Loves from Turkey. 🚀🚀

[@homanpst9437]

nice and easy, thanks a lot

[@johnny2351]

Thank You!

[@huseyinselcuk9217]

perfect job! thanks for the video.

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?

[@mdanarul9629]

This is very interesting video. This is a great video. This is wonderful video.

[@xvaldetaro]

Great video! It is clear to me how the smart contract is fulfilled in a crowdfunding case as the only requirement is to reach a certain value. However, I can't understand how a smart contract would be fulfilled for the other examples, like insurance, which you mentioned. How is the validation that someone would need to retrieve the stored money on an insurance contract?

[@simplyexplained]

Yeah that example isn't the best one because people have a certain idea about how insurance companies work. But if you change that view, you can imagine smart contracts being actually useful. Let's assume that there is a company offering a natural disaster insurance. And let's also assume that the government publishes data about these natural disasters on a blockchain somewhere. Then you can make a contract that accepts a monthly fee from you and automatically pays out a fixed amount of money if a real natural disaster happened (and the government added it). A bit difficult and not all types of insurances are fit to be handled through a smart contract. A better example: insurance for losing your phone. The smart contract could be triggered if you put your phone into "lost mode" or if you file a claim with the police. Granted, these applications are not for tomorrow and will take some time. But it's definitely possible!

[@Johannesdesloper]

How are u going to change that view and what exactly should be the new view? Someone behind his or her computer making choices, without facechecking reallife? How do we know, this person is not forced into making this choice?

[@Johannesdesloper]

I get your point, but i'm still thinking: who decides you made your own decision, there is no central point who can defend you and back you up, it's only people with mining machines and are in the blockchain, who don't know the situation, cannot judge what happened, no witnesses at all, only data. Is that enough to transfer buildings/testimonia/ insurance money? I don't see it happening before me, but maybe i'm not seeing this right? And still again: you only see the data, is that enough? Maybe the data is correct but in real life the things happen the other way around. A machine can't check reality.

[@michaelmorland]

I think smartcontracts, the way it is explained here is only really good for true/false scenarioes. (yes / no scenarioes). In many of the examples there is more complex matters and shades of gray. I agree with you that these case still require 3rd party / human judgement. I am also of the oppinion that a blockchain of people sitting behind a computer will in no way be able to judge what actually happened in more complex examples. I.e I had a leak in my house, I claim to my insurance etc. Insurance company says I have not done my roof right or maintained it well enough to qualify. We have a disagreement. How will a blockchain judge who is right?? This is where qualified 3rd party surveyors come in, but it still becommes a matter of a human being, and his bias what decision is reached.

[@luigiconte924]

Any website were I can get a smart contract ?

[@umidjonxudoynazarov9012]

Thank you for simple explain this theme.

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?

[@mentormags]

very well explained, thank you

[@jessicawiley5797]

Sorry for writing you, just out of curiosity your page come up on my suggestion friend list so I was just wondering if I knew you from somewhere?

[@Hugo-xj2mj]

Thank you!!

[@codemilli]

Okay. First of all thanks for this great video. However I have a question about smart contract which works like people who judge in business. When we are doing a business, things happening are not just simple as the smart contract do. For examples, what if the reason for refunding is so ambiguous that just smart contract cannot judge ? In that case human must engage right ? So my question is even though almost every business change their base technology to blockchain, they cannot cut down expenses right ?

[@okechukwunwanjah5853]

Very wonderful presentation. Thank you. I now use smart contract to earn lots of money

[@NoorKhazal]

Happy new year bro. Was wondering if you could try to explain enigma as it's highly talked about and will have a massive impact if what they claim is true. Read their whitepaper but it's to difficult to understand..

[@Inviincible]

As a person who is in the process of writing PhD about smart contracts, I would love to thank you! That is a great video for explaining people what are smart contracts

[@satoshiaoki]

Brilliant!!

[@vulturetf3857]

great video. thanks