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Except you can still change something if it's on the blockchain, it's just that now you have an immutable record that it was changed. So now if things go wrong

Except you can still change something if it's on the blockchain, it's just that now you have an immutable record that it was changed. So now if things go wrong, the other party suddenly decides they liked the old contract (which you'd signed) and you have yourself a court battle. If it's on the blockchain you can point to it and say, "yes we signed this old contract but you can tell here we both agreed to change it."

code_duck 8y ago
How does that differ from a standard legal agreement? At any time two parties can make a new agreeement, with or without a court battle. Your immutable record is documents filed with the government on public record.
- dspillett 8y ago
  > How does that differ from a standard legal agreement? > Your immutable record is documents filed with the government For people who don't necessarily trust the current and future government (to be both just and no inept at keeping accurate records), you've answered your own question. > on public record. One of the sales points of blackchain based contracts is that getting your details onto public record, and someone else verifying those details on the records, is easier. And in theory the record is not as easy to corrupt/disrupt/hide/block. Caveat: I'm not more than an intrigued bystander on the whole blockchain thing ATM, so the details as I understand them may be quite wrong.