3 ms·
That's a very eloquent way of putting it, thank you. It's possibly even worse than just a misunderstanding though. I'm sure there are people in the Crypto indus
by short_sells_poo 4y ago
That's a very eloquent way of putting it, thank you. It's possibly even worse than just a misunderstanding though. I'm sure there are people in the Crypto industry who see core issue of enforcement, because the second wave (after Bitcoin first became mainstream) was all about smart contracts. E.g. there was an effort to move the subject of enforcement into the framework. After all, if the contracts that need enforcement are part of the crypto system, then enforcement can also happen in the same system. Right?
Of course, this still falls short because no amount of mathematics will bridge that gap. At some point, the financial system (whether classical or based on blockchains) has to interact with the mind boggling mess of the real world. In the real world, 2+2 is not certain or deterministic at all. It can be debated, social implications weighed and the judge might say it's 4 and a bit, or slightly more than a pie.
In some sense it feels like crypto would work perfectly in a world that is completely deterministic, measurable and is populated wholly by algorithms interacting with each other. The second order question then is: would such a world even need crypto?