Smart contracts have already significantly impacted technology venture funding, notably through millions of dollars raised via ERC20 token sales that have surpassed traditional early-stage internet startup investments. Despite initial limitations, smart contracts have evolved with the development of oracles, such as the Town Crier (TC), which connects blockchain systems to real-world data using a trusted execution environment (TEE) for enhanced security and confidentiality. TC, now part of Chainlink, complements the decentralized system by ensuring data integrity and confidentiality, allowing for advanced applications like secure password handling and private computations. While TEEs like Intel's SGX face security challenges, they offer a vital layer of protection, particularly when used alongside decentralization. This integration of TEEs is expected to expand the capabilities of smart contracts, enabling them to interface with legacy systems and perform complex, off-chain computations, thereby broadening the scope of blockchain applications in industries such as IoT and supply chain management.