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" ... Overall: This wee beastie has plenty of surprises in store. 8 ... "
" ... The final beastie in the semantic zoo is a bit different than the others, though again it relies on many of the same principles. Smart contracts first emerged in the context of blockchain, but blockchains do not, in general, actually store data - they store unique pointers. A semantic system is ultimately a global pointer system, where every resource has a unique machine readable name. This makes semantics systems logical complements to blockchain, especially in the arena of smart contracts. A smart contract, then, is resource that binds other resources together. The title of a car is a good example - it binds a vehicle (identified by a VIN) to an owner (identified by any number of different systems) through an issuing authority, over a specific period of time. The title is a contract that indicates that the issuing authority recognizes the owner has the right to possess and use the vehicle for a certain set of purposes. It's also a contract because it stipulates penalties for non-compliance to the agreement of the title by the same issuing authority, and as such the fulfillment of those penalties also needs to be tracked. ... "