Charlie and Mark Miller take a trip to the past and the start of smart contracts. Charlie kicks off the show sharing an abstract that Mark wrote in 1988 that envisioned a future of smart contracts. Mark shares what was missing from that abstract when it comes to blockchain, diving into solving the problems of ignorance and malice brought on by centralization. Mark explains Polycentrism and how it relates to consensus mechanisms. Charlie shares his thoughts on Bitcoin and its lack of need to make decisions. Mark talks about the road to immutability and the DAO bug on Ethereum. Mark shares info on Agoric and how it’s building a blockchain on utilizing familiar technology. Mark dives into finality, proof-of-stake, and differences between Bitcoin and Ethereum. Charlie and Mark hypothesize consensus scenarios with Ethereum. Mark shares Agoric’s capabilities and its governance mechanism.