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Maybe. But you still need an override from real courts, when the contracts fail. That's what courts are for. When someone finds an exploit in the smart contrac
by knorker 4y ago
Maybe. But you still need an override from real courts, when the contracts fail.
That's what courts are for. When someone finds an exploit in the smart contract there must be a "no that's clearly not what anyone meant. Nobody actually wanted all the money in the world to go to Hacker McHackerface".
If your assumption is that one of these contract layers is "perfect", then it's not realistic.
- setr 4y agoThats why you have the arbitration contract… to allow an arbiter to undo the work, with the reasoning “this isn’t what was intended” But anyways that was in jest; the crypto community will eventually recreate the same systems and bureaucracies already in play today as they run into all the edge cases that occur with traditional currency (fundamentally: currency carries provenance and is only fungible until its not, and the transfer of funds between two parties does not actually involve only the two parties — and lawyers write excessively defensive, excessively long contracts for a reason).