The blockchain constitutes a technology-based, rather than social or regulation based, means to lower uncertainty about one another in order to exchange value. However, its use may very well also lead to increased complexity resulting from having to
subsume work that displaced intermediary institutions had performed. We present our perspective that smart contracts may be used to mitigate this increased complexity. We further posit that smart contracts can be delineated according to complexity: Smart contracts that can be verified objectively. We state that smart contracts that implement a formal (e.g. mathematical or simulation) model are especially beneficial for both contexts: They can be used to express and enforce agreements, and their basis in a common formalism may ensure effective evaluation and comparison between different contracts. Finally, we present a breakdown for main idioms about blockchain and its mechanism, smart contracts, also the most famous currencies
