Re:Richard Stallman: We Can Do Better Than Bitcoin
by spookthesunset on Monday November 26, 2018 @11:01AM
(#18534217)
> History suggests that the odds of that are not good. I'd rather trust a bank and the legal system
Which is the silly part about "smart contracts" in the first place. Any smart contract dispute will just "devolve" back into the meatspace legal system. Anything that isn't a dispute because it is just "routine execution" (eg: moving money from account A to account B automatically) can simply be called "business automation" that consist of a bunch of "business rules"--basic terminology that has existed since the dawn of computers.
Smart contracts do nothing but add overhead to any transaction.
Which is the silly part about "smart contracts" in the first place. Any smart contract dispute will just "devolve" back into the meatspace legal system. Anything that isn't a dispute because it is just "routine execution" (eg: moving money from account A to account B automatically) can simply be called "business automation" that consist of a bunch of "business rules"--basic terminology that has existed since the dawn of computers.
Smart contracts do nothing but add overhead to any transaction.