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Smart contracts are something that can never work, because it is predicated on our ability to write correct code. Empirically, we know that is not going to happ

Smart contracts are something that can never work, because it is predicated on our ability to write correct code. Empirically, we know that is not going to happen, which means you need some sort of disaster recovery mechanism, which will end up being some centralised entity that has a sufficient level of permissions to override the contracts, thereby losing the primary selling point. Or you try to solve this with even more technological complexity, but that will only increase the fragility of the entire system and will paradoxically end up having the opposite effect of what is intended.

carlosdp 5y ago
This is a bananas statement, there is literally billions of $ transacted safely and successfully on smart contracts every day. Gnosis Safes (a multi-sig smart contract wallet) secure $96b in assets today and hasn't had a single security incident.
q-big 5y ago
> Smart contracts are something that can never work, because it is predicated on our ability to write correct code. Laws are of similarly bad quality (in my opinion of even much worse quality than software), we just have at least centuries more experience how to deal with crappy laws than with crappy software.