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> How do we put all of that into a smart contract? Can a smart contract trigger payment only when the cotton arrives? Can it check to make sure it arrived on th
by seangrogg 9y ago
> How do we put all of that into a smart contract? Can a smart contract trigger payment only when the cotton arrives? Can it check to make sure it arrived on the ship specified in the contract?
I've not worked with smart contracts personally, so take it with a grain of salt, but...
This problem seems to be mostly solved by the information available in shipping manifests; the locations of loading and unloading, the consignee (buyer), container ids, description of goods... all there in a publicly available (at cost) record.
The real difficulty has more to do with verifying the quality - I'll admit I'm at a loss to how that's done today and I can't imagine quality assessors are at the port to verify that container #123 contains the shipment of Grade B+ cotton or map that to an API. As well, what happens when you disagree and your own independent assessor says its Grade B-? This seems like something that would remain up to legal debate; probably denoted in the contract but not verified by it such that lawyers and assessors can handle it should problems arise.
Just my two cents.