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In Switzerland that's the default for deposits: you create a bank account in your name, but you're not allowed to touch this money until you've left the accommo
by hiq 6y ago
In Switzerland that's the default for deposits: you create a bank account in your name, but you're not allowed to touch this money until you've left the accommodation and the landlord has agreed that you left it in good shape. I've heard that it's also rather hard for the landlord to claim this money, they need a strong case.
- seniorivn 6y agoall those cases are examples of how old institutions have managed to solve issues relevant to the smartcontract case. But most people don't have access to such institutions, and it turns out building political institutions capable of providing such tools and trustworthy is really hard. Even worse, some people don't have as much trust in longterm longevity of governments. for all those people, trust-less smart contracts is a replacement of institutions they don't have, available as long as its tech works.