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I still struggle with smart contracts. I am glad they exist, but right now I think they will be some super rare thing, used in cases that previously required ea
by mchusma 5y ago
I still struggle with smart contracts. I am glad they exist, but right now I think they will be some super rare thing, used in cases that previously required eacrow.
I was in the e-signature world, and nobody tended to ever care about authentication. Nobody really wanted to pay for it, almost ever.
They smart contracts have 2 of the largest features of escrow: handing control of your money to a third party and not being able to use the money now/bad payment "terms". It mitigates some counterparty risk, as it's harder for the oracle themselves to steal the money.
It's also probably expensive, as oracles have to meditate disputes and take on risk.
So interesting, but unsure what it would be used for.