Re:Binance's books are a black box, filings show, as it trie...
by pr0zac on Monday December 19, 2022 @11:54PM
(#34061695)
I mean if this were such a big problem with our current system I feel like there would be a lot more financial issues occurring. Counterpoint to that being maybe there actually are already, see the 2008 collapse for instance which happened in part from mismanagement like your example.
More importantly though I don’t feel like blockchain prevents shoddiness and human error from causing problems, it just changes the methods available and how they manifest.
Badly written contracts, mistyped addresses, and misplaced keys have lost people tons of coins. And the lack of reversibility and centralization makes cleaning up mistakes significantly more difficult.
What happens to the buyer when the original seller writes a broken contract to transfer the recipient for the remaining balance that results in the payments being completely irretrievable?
More importantly though I don’t feel like blockchain prevents shoddiness and human error from causing problems, it just changes the methods available and how they manifest.
Badly written contracts, mistyped addresses, and misplaced keys have lost people tons of coins. And the lack of reversibility and centralization makes cleaning up mistakes significantly more difficult.
What happens to the buyer when the original seller writes a broken contract to transfer the recipient for the remaining balance that results in the payments being completely irretrievable?