A venture investor and economist with over 10 years of practical experience in startups and venture capital, a business development expert. Еntrepreneur and founder of over 10 projects in IT and FinTech (financial technologies) with aggregate capitalisation over €100mln including PLATINCOIN and ELVN . World Internet publications — Coin Idol, Bitcoin News Schweiz, Coinspeaker — often feature Alex Reinhardt’s comments on the developments in the crypto market.
With the rise of cryptocurrencies, there is an increasing amount of discussion about smart contracts. In this article, we will describe in simple terms what they are, why they are essential, and how they work.