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Maybe someone can write an insurance contract that future DAO authors can hire, as an alternative to interventions. It would have to be bug free.
by jchrisa 10y ago
Maybe someone can write an insurance contract that future DAO authors can hire, as an alternative to interventions. It would have to be bug free.
- ricksplat 10y agoSounds like kernel space code.
- genmon 10y agoThis is a smart response. The insurance company could also review the contract code in order to provide cover -- this would give investors extra confidence.
- vkou 10y agoSuppose that I want to make a medical device, and I want to get liability insurance for when a bug in its code administers a lethal dose of radiation to a patient. Is there any extant insurance company that would want to review my code in exchange for a lower premium? If not, why would one be willing to do this for a flash-in-the-pan cryptocurrency, but not a useful, real-world device?
- rabidferret 10y agoFor an insurance policy like that, they wouldn't offer any policy without auditing the device, including the code.
- will_brown 10y agoSomething like this: https://news.ycombinator.com/item?id=11789829 https://news.ycombinator.com/item?id=11789829
- rspeer 10y agoStep 1: Write an insurance contract against the malicious use of Ethereum Step 2: Find someone foolish enough to accept the other side of the insurance contract, in a world where "insurance fraud" is no excuse Step 3: Use Ethereum maliciously, stealing your own Ether under another identity Step 4: Collect insurance Step 5: Profit (in Ether) Step 6: Good luck turning your Ether into actual money when people figure out how broken everything about it is