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Doesn't the commodities futures market pose have the same baseline issue? How is that managed? My layman understanding is that it's quite similar. Disclaimer:
by bpicolo 9y ago
Doesn't the commodities futures market pose have the same baseline issue? How is that managed? My layman understanding is that it's quite similar.
Disclaimer: I know almost nothing about commodities markets.
- notahacker 9y agoIf third parties can't or won't settle accounts they can involve lawyers or regulators, the very people that some of the "code-as-contract" evangelists were arguing could be [largely] eliminated. The point is that the blockchain makes little difference to a third party's ability to not honour most real goods and services contracts, and ascribing too much authority to its records can even reinforce their lie about paying you, because that's what the tamper proof record of the aluminium-filled warehouse says they did.