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> smart contracts might streamline ops (international logistics comes to mind) "Smart contracts" is just code. In case of crypto this code is running on world'
by dmitriid 4y ago
> smart contracts might streamline ops (international logistics comes to mind)
"Smart contracts" is just code. In case of crypto this code is running on world's most innefficient VM.
Elsewhere its just code and code has been runnig "contracts" for as long as there have been computers.
Everytime you buy a ticket inline, there's a "smart contract" running. Everytime you listen to music inline and money get accumulated and paid to artists, there's a "smart contract". etc.
- replygirl 4y agoi agree i was just trying to be generous to the believers
- jasmer 4y agoThe code at Ticketmaster is not a 'smart contract' - I mean it's reasonable to use that as an example to clarify the similarity between TM and 'defi contracts' - however, it truly is 'just code'. There's nothing 'contractual' about it. The 'contracts' and legal implications are signed when you accept terms (a 'contract' between you and TM), and the transfer of money for tickets is regulated by the prevailing regulatory conventions. I think NFT's may eventually become a form of 'ownership by convention' in which case maybe we could apply a general legal principle (i.e. obtaining and NFT is tantamount to accepting some legal terms). But we'll have to see.
- dmitriid 4y agoThere's literally nothing contractual in "smart contracts". They enforce nothing. It's just code. Ticketmaster's tickets are actually more of a contract because the ticket you get is actually covered by laws, Ticketmaster provides certain guarantees etc.