<p>I guess it depends on what precisely counts as "self-executing" but escrow transactions are very similar and quite common, particularly in real estate and certain kinds of online transactions.</p>

<blockquote>
  <p>An escrow is a deposit of funds, a deed or other instrument by one
  party for the delivery to another party upon completion of a specific
  condition or event. It is an independent neutral account by which the
  interests of all parties to the transaction are protected.</p>
</blockquote>

<p><a href="https://www.titleonecorp.com/buyerseller/whatisescrow.aspx" rel="nofollow">What is Escrow? - Title One</a></p>

CC BY-SA 3.0
2016-01-27T01:02:26.687Z
2016-01-27T15:09:58.633Z
2016-01-27T15:09:58.633Z
BKay
<p>In last years I have read a lot about "<a href="http://www.fastcolabs.com/3035723/app-economy/smart-contracts-could-be-cryptocurrencys-killer-app" rel="nofollow">Smart contracts</a>". </p>

<p>But I cannot understand why we need bitcoin for this?
The old-fashioned US Dollar are not used in Smart Contracts? </p>

<currency><cryptocurrency><contract-theory>
Smart contracts in Dollars
sparkle
# Smart contracts in Dollars

(Asked by: username_0 on 2016-01-26)

In last years I have read a lot about "[Smart contracts](http://www.fastcolabs.com/3035723/app-economy/smart-contracts-could-be-cryptocurrencys-killer-app)".

But I cannot understand why we need bitcoin for this?
The old-fashioned US Dollar are not used in Smart Contracts?

**Tags:** currency, cryptocurrency, contract-theory

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## 1 answers

### Answer by username_1 on 2016-01-27. Score: 2

I guess it depends on what precisely counts as "self-executing" but escrow transactions are very similar and quite common, particularly in real estate and certain kinds of online transactions.

> An escrow is a deposit of funds, a deed or other instrument by one
> party for the delivery to another party upon completion of a specific
> condition or event. It is an independent neutral account by which the
> interests of all parties to the transaction are protected.

[What is Escrow? - Title One](https://www.titleonecorp.com/buyerseller/whatisescrow.aspx)


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