Vitalik Buterin, whom I now consider the father of Turing-complete financial scripts, has no less than two features in our spec which were his suggestions. He suggested both the Contract-for-Difference (CFD) bet and the rate-limited wallet.
When we asked Vitalik to look at my proposed implementation of his CFD idea, he came back a few days later with a proposal for a general purpose scripting engine, which he was very excited about, as it would allow Master Protocol users to implement features we haven’t even dreamed up.
Of course, bitcoin itself originally had a number of general purpose scripting capabilities, which have been disabled by the developers. The obvious problem with Turing-complete financial scripts is that hackers will find endless ways to exploit them.
Imagine how much more intense that battle will be when the prize is not control of a browser, but control of money worth millions or billions of dollars. Financial scripting engines allow lots of interesting niche use cases, but they present a mammoth attack surface to malicious actors.
Still, some very smart people (including Vitalik) are tackling these problems, and I think it is quite possible that the end result will be something useful. Once the painful lessons have been learned, and a battle-hardened scripting engine emerges, that would be a great time to add a similar scripting engine to the Master Protocol.
When Vitalik brought us his scripting engine, I told him that the Master Protocol may very well add scripting someday (citing my logic above), but we needed to get our basic functions in place before we took on something that ambitious. He decided to wade in right away, starting his own initiative on a new block chain.
I have no doubt that his initiative (and many others) who are tackling these huge problems will raise vast quantities of money. Developers are fascinated (for good reason) and investors are salivating. Once they’ve got the kinks worked out, you can bet that the best of their work will show up in the Master Protocol, built right on top of the bitcoin block-chain, which I expect to be the back-bone of the future of finance.