3 ms·

Completely agree - but that wasn't the point. Standard contracts can't verify facts automatically either.

• dragonwriter 6y ago
  > Completely agree - but that wasn't the point. No, it's a rebuttal to the point. > Standard contracts can't verify facts automatically either. Standard contracts don't pretend to automate the reactions to facts, and so don't need to verify facts automatically. That's why they rely on human action for execution and the legal system to verify and correct execution. That reliance is what smart contracts purport to fix, but if they can't verify facts automatically, they don't fix it.
  • yakkomajuri 6y ago
    Right, I understand. You do have a point. However, while automation might be presented as a benefit of smart contracts (as one of my paragraphs indeed mentions), I believe the greater benefit comes from the transparency and deterministic execution. We are definitely not there yet when it comes to land registries, but DeFi now has billions locked away in contracts that are updating and reacting automatically to trades, loans, bets, purchases, etc, which is a good start.