Their take: Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
Our take: We envision Ethereum as one of the de facto technological platforms for post industrial individual, collective, organizational, international and global value exchange, in all the possible expressions of value, All collective agreements can be enriched and flow through Ethereum's platform as well. Connected to other technological platforms it could serve many sensemaking and change-making initiatives.