Re:Decentralized Woo Hoo
by CJefferson on Tuesday November 16, 2021 @10:54AM
(#29241950)
But, if there is a "court intervention" clause that just lets you say "Transfer X money from Y to Z", then why bother with full blockchain/crypto? You have effectively central control.
I agree that would be a useless smart contract. If that is your intention, then don't use a smart contract.
If, however, there are a limited number of known possible outcomes, then smart contracts offer advantages over court-based settlements.
Re:Decentralized Woo Hoo
by CJefferson on Tuesday November 16, 2021 @05:37PM
(#29247176)
Can you give a concrete example? I can't think of anything where you wouldn't need a fallback "human takes control".
> but the rules are public and codified.
You mean like, say, the current system of laws we have? (:
Sure, laws are strange and arcane and require expertise to translate them into understandable terms, but any form of code has the exact same problem.
No. Better than the current system of laws we have.
Currently, the current system requires lengthy court intervention with interpretation done after the fact.
Smart contracts can allow for a fixed number of resolutions with a timeframe defined up front. Smart contracts won't work for everything, but they might be a better fit for some things.
Imagine a future with multiple levels of smart contracts that allow for court intervention and arbitration. It starts to resemble the checks and balances we have in place now, but the rules are public and codified.