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Vinay Gupta @leashless
, 12 tweets, 3 min read Read on Twitter
Momentous times at @Mattereum. We've been digging into the legals underpinning, well, _everything_ for a year, and we hit the gold three months ago: a completely new approach to smart contract legal enforceability. Something *better* than existing paper contracts in tangible ways
This stuff is very esoteric. We are behind on many normal areas of business development because getting a comprehensive shared understanding internally, good enough to build products from, has taken time. We are going after the real world in a big way. It has heavy start costs.
We're still sorting out the language, going over the new model with customers (both existing and new) and preparing to build out the tooling to finally solve the problem of how do we make smart contracts *economically* useful in the real world. How do we make these things pay?
Breaking out of the blockchain hype and actually delivering coherent, tangible services to the wider economy has always been the @Mattereum goal. The name was chosen very intentionally: *we want access to the material world from the blockchain* and that means serious construction
We didn't realize quite how far we were going to have to go beyond the existing models in the space. The initial whitepaper we published was a decent summary of the State of the Art a year ago, but (imitators aside) we had so much to discover as we started to build out systems.
There was a magical moment when the model we were proposing started to seem absolutely, resonantly right to all the different professional disciplines in our company, and the optimists and pessimists all agreed it was optimal. I have not seen that often in my professional life.
And that's the level of analytical breakthrough required to change the world. To effect revolutionary change in the world that currently exists, change has to be made to the axioms on which that world is built. In our case: contract automation & how computer systems manage assets
If the goal is to build something like a VISA protocol - something millions of businesses depend on for day-to-day operations, something used by a billion people a day, something *new* has to happen. But it has to be re-imported into the real world immediately for real growth.
I want to make pretty broad and sweeping changes to how the real world works; not just building new financial instruments in the crypto world, but getting right down into retailers and construction sites. Kill the paperwork, open up for knowledge-based intercompany cooperation.
Every company in the could gain from the ability to cooperate better with customers and vendors.

"Can this wait a couple of days?"
"Can you discount 4%"

both sides win. Why so hard to negotiate? Transaction costs block cooperation.

Networks of companies can outcompete rivals
And this is why I think the revolution, as it hits, will make serious history: we now have sophisticated enough software to revolutionize the production of human cooperation. To do for business what social media did for getting together with our friends. A serious step function.
Our approach is tied to the assets: get the stuff *moving* through value networks properly instrumented, whether that's copyright or solar panels. We've got 50 companies doing identity, the chain itself does payments. Add *things* and enforcement + a real strategic vision? We go!
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