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A comment on Missing line in a smart contract leads to $10M hack. Parent comment

Re:Missing line in a smart contract leads to $10M hack by kevindong on Sunday May 16, 2021 @05:40PM (#27177243)
Then what's the point of smart contracts? If you always must have some form of repudiation/reversal mechanism, you might as well go with the traditional contracts.

You could argue there will be lowered costs in the happy path where nothing goes wrong, but I'm not sure that's valid since the underlying software still needs to written/supported by someone.

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Re:Missing line in a smart contract leads to $10M hack by TimJRobinson on Sunday May 16, 2021 @08:34PM (#27178726)
Smart contracts can automatically execute code that makes transactions happen. With a traditional contract you need a third party to do that (or you have to trust the other person).

This allows for a lot more efficiency as people who've never met can make trades on an open market without having to involve anyone else.

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Re:Missing line in a smart contract leads to $10M hack by tshaddox on Sunday May 16, 2021 @06:40PM (#27177741)
One obvious point would be transactions for which the traditional legal system is not an option, like illegal transactions or highly secretive transactions. But yes, I think advocates would provide other examples of lowering costs.
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