“Smart contracts” are also automatically enforced bug bounties, as anyone familiar with their sordid history knows. With “smart contracts”, you could argue that

“Smart contracts” are also automatically enforced bug bounties, as anyone familiar with their sordid history knows. With “smart contracts”, you could argue that exploiting a “bug” in them is just part of the contract. Actual contracts have some very good properties: they must be legal, and they are open to (some) interpretation in case they aren’t perfectly written. And we have a process for resolving disputes that doesn’t involve forking the entire blockchain.