Vitalik Buterin referred to this concept of trust beyond just currency as ‘smart contracts’ or...

2.0 Ethereum came after Bitcoin. Vitalik Buterin, one of the writers for Bitcoin Magazine that tried to popularize the technology in the early 2012. He witnessed first-hand the problems in the Bitcoin implementation like wasteful mining hardware, centralized mining community, and lack of network scalability. In 2013, the then 19 year old Vitalik described his vision for Ethereum by extending the concept of Bitcoin beyond just currency. He proposed a platform where developer community and entrepreneurs to build distributed application (Dapps) for the Blockchain network. He referred to this concept of trust beyond just currency as ‘smart contracts’ or even blockchain-based “decentralized autonomous organizations” (DAOs).