Although smart contracts have transformed the potential of blockchain and cryptocurrency, they are not a perfect solution for widespread adoption. It is outdated to assume that new technology is flawless, and this can create an adversarial relationship with regulators. Mainstream adoption of smart contracts is hindered by a lack of Bitcoin support and the difficulty of connecting crypto and fiat through a smart contract framework. Smart contracts need to be altered to maximize security and privacy, and viewed as a "proof-of-concept" rather than the key to universal adoption. To ensure the future of crypto, there needs to be a consistent dialogue with traditional finance and a prioritization of development to address obstacles preventing fiat interoperability and ease of access.
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