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Thanks. This makes sense, it is indeed a sort of legally binding agreement between a company and "the public". I'll note that despite the grandparent's flippant
by tom_mellior 6y ago
Thanks. This makes sense, it is indeed a sort of legally binding agreement between a company and "the public". I'll note that despite the grandparent's flippant comment, this does not involve a "contract" or "written signatures".
However, this kind of competition or prize is kind of the inverse of an oracle: The company says that they will give someone money for certain actions. The oracle is the inverse: It promises to perform certain actions for anyone who gives it money.
In some sense I realized that there is a similarity to mail order catalogues, where you don't have a contract with the company before sending them money out of the blue. But is that the law that an actual court would apply to a random website that announces "we will provide accurate data about X to anyone who sends Y amount of Ether to address Z"? Possible. (But again, not a contract with "written signatures".)
- kolinko 6y agoYes, it’s not a contract with written signatures, but can be binding. In my case it wasn’t oracles, but tying up real world assets to tokens. The company had to be obliged to fulfill what contract told it, and we managed to grt it working from a legal perspective.