We’ve all heard about the benefits of smart contract technology - a trustless tool to boot out the middleman when exchanging money, assets, or anything of value. As revolutionary as blockchain’s latest buzzword may be, smart contract bugs are causing untold chaos. Smart contracts were first proposed in 1994 by Nick Szabo, an American computer scientist who invented a virtual currency called "Bit Gold" in 1998, fully 10 years before the invention of Bitcoin. In fact, Szabo is often rumoured to be the real Satoshi Nakamoto, the anonymous inventor of Bitcoin, which he has denied. “Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology.” Certainty of code Cost effectiveness for repetitive low value transactions Increased competition by breaking down monopolised financial systems A truly interconnected world, removing inefficiencies between systems Decentralisation reduces the risk of permanent data loss and corruption of Cryptocurrency Transparency may assist effective regulation of markets Faster settlement of trades, and the removal of multiple layers of book entries