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I totally agree with the assertion that it doesn't fall into existing asset type (or-- maybe that it can move between asset types in a novel way), but what do you mean by "programmable"? Isn't the simpler explanation or enthusiasm on the part of Goldman et al. just classic FOMO?

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When you can engineer sophisticated scripts or wrappers around a globally accessible immutable tradable asset it increases functionality and innovation in financial products which includes autonomous machines trading crypto with one another in exchange for data. I think we're in for a world of fun.

Bitcoin uses smart contracts for its transactions. Meaning, you can program a transaction to occur if certain conditions are met. One example is a multisignature-required transaction. A multisig transaction is only valid and spendable if n-of-m signatures are present.

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