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Most contracts are so basic as to be invisible, so no, people are not very careful when they buy a chocolate bar, for example If you want smart contracts to be

Most contracts are so basic as to be invisible, so no, people are not very careful when they buy a chocolate bar, for example If you want smart contracts to be only applicable to very narrow sets of problems so be it, but otherwise you need to be able to allow, for example, unsecured lending and highly uncertain payoffs at T0 (staying in the finance domain)

thebean11 5y ago
> people are not very careful when they buy a chocolate bar Ok..sure, but I think it's sort of pedantic to bring up a class of contract that, obviously, nobody in this thread is talking about. It's a bad example anyway; even if you are being pretty careful it's simply not a risky transaction and therefor out of scope for complicated enforcement mechanisms like smart contracts. I don't think smart contracts are very well suited to unsecured lending, at least not with available software. There would be no incentive to pay it back without some mechanism to force collections. Collateralized loans, however, is a great use case that exists already. This is early stage tech, the scope is pretty small. I don't think anybody is arguing the contrary.