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Money is only a token of value. What if you were unable to accept cash (for example, you are on vacation)? Wouldn't it be useful to make a deposit on a car, r
by jsprogrammer 10y ago
Money is only a token of value.
What if you were unable to accept cash (for example, you are on vacation)?
Wouldn't it be useful to make a deposit on a car, right before you use it?
What hasn't been explained here, are what guarantees the depositor receives.
- homogeneous 10y agoI just don't see how ethereum (or even bitcoin) is useful here. If you make a deposit on a rental vehicle then the deposit will be returned when you return the vehicle as it was given to you. Why is a smart contract needed?
- jsprogrammer 10y agoWhen you do not want to be there to physically collect the deposit?
- homogeneous 10y agoCertainly a smart contract is not necessary for that.
- jsprogrammer 10y agoCan you link to such an implementation?
- homogeneous 10y agoI'm not really sure what you're asking for. If you're looking for a system capable of accepting payment without an attendant there are many. Here is just one example: http://bw-2e2c4bf7ceaa4712a72dd5ee136dc9a8-bwcore.s3.amazonaws.com/articles/WalmartSelfCheckoutlarge.jpg http://bw-2e2c4bf7ceaa4712a72dd5ee136dc9a8-bwcore.s3.amazona... If this is not the type of device you're talking about please be more specific.
- jsprogrammer 10y agoI was thinking of a system that would let you place a deposit immediately before rental (imagine a rental car in a public lot) and then automatically receive your deposit back when you are done with the car (which was possibly even left in a different lot). I'm thinking the car would use its sensor system to detect if any damage might have occurred and if not, it could trigger the return of a deposit as soon as the vehicle is locked.
- homogeneous 10y agoThe system you describe is already possible today without the need for a smart contract.
- jsprogrammer 10y agoCan you link to an implementation? Admittedly, I don't really understand the distinction of a "smart contract". I am only describing the function of the system that there was some confusion over.
- homogeneous 10y agoOk. What I'm saying is that the ability to accept and relinquish an automated security deposit does not require a decentralized technology such as ethereum or even bitcoin. A machine (like the one I linked above) can accept money and dispense money at the discretion of the business rules that determine the appropriate criteria for these operations (via car sensors or whatever).
- jsprogrammer 10y agoYes, but that requires a fixed machine (or a cash lock box on every vehicle?). Shouldn't I be able to just leave the car anywhere in a city?
- 10y ago