Below we share the transcript of the video where Victor Romero, CEO-Founder of Mercury Cash, explains what are smart contracts, blockchain technology and the future of ethereum. (Original language of video: Spanish).
We are already living a new era that is the blockchain, the bitcoin, the ethereum, and eight hundred other cryptocurrencies. The ethereum is a platform that is being created to allow entry to industries that want to move or change their business models in a conventional way to a decentralized methodology.
So, ethereum as a platform to these different new business models create Smart contracts, within the platform of ethereum. In this way they will allow a perfect balance between the person who buys and the person who sells, that is, the intermediary will end up.
How can this be possible?
I always like to quote an example of what the music industry is. When we have an application such as Spotify, then in Spotify we pay $ 1 USD per month, then that dollar per month Spotify should distribute it among the artists who upload their songs. Then the artist who uploaded his song should expect to have a use for that.
So what’s up? It turns out that the artist has to go to a copyright center where Spotify prefers to pay, and the correct way he does now is to pay that central, that “World Copyright Association” and that World Association of copyright is responsible for distributing the royalties to those who will claim them. Because it’s not that I’m going to wait in my house for a check to arrive because I sang “Despacito” by Luis Fonsi.
Seeing it from the perspective of the Smart Contracts
The decentralized industry through ethereum, will allow a person to create an application and the users who are paying, when they are making those reproductions within the application, the Smart contracts will allow to pay those users, in real time, the reproductions that your users are seeing, then this gives them a profit in real time. A line of many steps is being reduced to only two and a more perfect economy flows. This is going to bring an endless number of industries that are going to start using ethereum.
Invest or not invest in ethereum?
Many people say, ok but what do I do? Do I invest with the ethereum or do I invest with the ethereum? From my particular perspective, I think that the one who buys ethereum right now is going to tentuplicate or maybe up to twenty times multiply his money. Why? Because just the ethereum that is being purchased at this time for decentralized applications is only for research and development.
In other words, the ethereum that is being consumed at the moment is like saying, it was discovered the oil and oil that is being bought at this moment is to prove the engines that Henry Ford is doing to make the cars run on gasoline. Then, at this time the ethereum was discovered, and the ethereum is being used for the development and research of all applications that will be used in the future.
So, if the person bought ethereum right now, when this industry becomes massive, the ethereum will be much more expensive and will have multiplied its money. But, I can’t give a guarantee or anything like that, everyone makes their personal decision.
How to buy ethereum?
Is it bought at the stock exchange? Where will I do that? Platforms like the ones we created in Mercury Cash allow users to create an ethereum account as if they had gone to a bank. Before you went to the bank, you had to go physically, carry your ID, carry everything, and create a bank account, not now.
Already create my account, what’s next?
I already created my account, I already have my wallet adress (which is how you call the ethereum bank account: wallet adress, a wallet address). There, on our page, you will be able to buy the ethereum, how? Simply send us a wire transfer with the amount of dollars that you want to buy, we enable that money in the USD Wallet and with that you proceed to make a purchase of ethereum, which you will receive at your address created there in mercury.cash .
So, having it there is already yours, it’s like your bank account but it’s your ethereum account and there you will have it. The moment you decide to sell it, we buy it for you because we were created for that and we have the liquidity to buy and sell ethereum always, like saying a house of exchange. The exchange office buys and sells dollars, we buy and sell ethereum and soon we will do it with bitcoin as well.
What does the future hold?
So what’s up? All this is going to bring a complete change in the way we see the banks. Why? Because everyone is starting to exchange cold coins for cryptocurrencies, to such an extent that I am almost sure that, thanks to the research we are doing, soon we are going with ethereum to be able to pay in a McDonald’s with the cell phone.
So, if you had been looking for someone to explain you about ethereum, about cryptocurrencies, what is happening? Here we are to help you. This is Mercury Cash, you can create your account, you can come, you can write to us, you can contact us through our Instagram, through our YouTube channel or through our Facebook, or any of the media, you can even go to our page and write us to the support we have there.
This is a good time to begin to start because it has not been massified yet, the people who are right now, who enter right now, are the people who are going to take more advantage of that.
You can see the complete video below:
What do you think about this topic? Do you have more questions about Smart contracts?
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