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One could precisely define solvency conditions. "If cash minus liabilities exceeds $1million, perform_unwind_operation()" _Obviously_ these conditions could e
by gargarplex 8y ago
One could precisely define solvency conditions. "If cash minus liabilities exceeds $1million, perform_unwind_operation()" _Obviously_ these conditions could entail more complex business logic
Obviously this idea is getting HNmocked and I'm not going to be able to talk my way out of it, and yes I realize that ideas of property ownership and managing contract disputes are one of the cornerstone of the justice system and society itself.
In that way I am somewhat of a crypto radicalist and I'm talking my book as I do have a long crypto position.
- astrodust 8y agoThat definition would make a lot of healthy companies arbitrarily bankrupt. Not many companies keep their assets in cash. Plus this also presumes that people report faithfully, accurately, and that zero mistakes are made. The biggest problem with immutable ledgers and smart contracts is simple: Shit happens.