3 ms·
Too bad the contract wasn’t controlled by some kind of algorithm, a ‘smart contract’, if you will. Oh well, guess we’ll just never have a solution for this sort
by jl2718 5y ago
Too bad the contract wasn’t controlled by some kind of algorithm, a ‘smart contract’, if you will. Oh well, guess we’ll just never have a solution for this sort of thing.
- kjksf 5y agoThis wasn't a failure of enforcing a contract. It was a failure of employees of Credit Suisse to take action after (correctly) identifying risks in their Archegos deal. Multiple departments at CS saw the risk. They failed to take action because they didn't want to loose a client who was paying them money.
- wyldfire 5y agoI'm all about cryptocoins but wow this is just about the glass-est house to throw stones from. Smart Contracts are notorious for things going wrong. I'm no expert but I kinda doubt a smart contract could make an autonomous margin call. Can't know the value of collateral without trusting a human or two in there somewhere.
- jtsiskin 5y agohttps://www.rekt.news/ https://www.rekt.news/
- jl2718 5y agoMost of these are intentional planned exploits carried out by outsourced creators that insert bugs. It’s a good point, but probably more preventable than observed.