According to Blockworks, the sci-fi concept of smart locks enforcing financial contracts, as depicted in Philip K. Dick’s 'Ubik,' is becoming a tangible possibility in decentralized finance. The article explores how smart contracts could control real-world assets like cars and apartments, enabling automatic enforcement of loan terms. Nick Szabo’s 1997 vision of smart locks is now being realized as blockchain infrastructure improves and traditional finance embraces tokenization. The piece also references Slock.it’s early attempts at digital locks and highlights the potential for smart contract-enabled collateral systems to attract global investors, particularly in high-interest markets like Turkey.
Onchain Assets and Smart Locks: A Sci-Fi Vision Becomes Reality
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