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It doesn't rely on the courts for enforcement, it relies on the underlying crypto-network. The contract is built in to the original sale.
by notwedtm 5y ago
It doesn't rely on the courts for enforcement, it relies on the underlying crypto-network. The contract is built in to the original sale.
- acdha 5y agoThink about this beyond the sales pitch: I accept your offer, taking a lower price because you double pinkie swear that you’ll share part of any future sales of an object, profits from a company, etc. At every point, you (the person who controls the thing with actual value) can choose to simply ignore the blockchain in many ways: not sharing profits with shareholders, selling a real-world object outside of the same blockchain, making copies of a digital object or listing the same thing on many NFTs, using a smart contract with a bug or unreliable oracle which you can exploit, etc. My recourse is my ability to sue you for breach of contract.