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What would have blockchain solved in this case? IMO, nothing. If people don't read contracts written in English, how do you expect them to read and understand
by Kpourdeilami 9y ago
What would have blockchain solved in this case? IMO, nothing.
If people don't read contracts written in English, how do you expect them to read and understand a smart contract that would contain the same clauses as the original contract but coded in a language they don't understand?
- Digory 9y agoIn this case, it appears the title had already passed to Grandma. A blockchain title could/should prevent Dealer from shutting down Grandma's car over Grandson's debt. If Grandson is right about the clause not appearing in the contract, of course, he'd be doubly good. To say it less flippantly, the low-hanging fruit in blockchain-assisted contracting seems to be these automatic self-help remedies and simplifying title disputes -- which, right now require judges and police for even simple disagreements. You'll have fewer wrong denials of access, but perhaps more denials overall.
- jimktrains2 9y agoBeing generous, I believe go meant to assume that the device would be programmed to disable itself once the contract is settled.