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I have some serious problems believing your argument. For example, this: > Is a smart contract better than a written contract? Maybe it is, if there is no func
by l33t233372 4y ago
I have some serious problems believing your argument. For example, this:
> Is a smart contract better than a written contract? Maybe it is, if there is no functioning judiciary to adjudicate contractual disputes.
If there’s no functioning judiciary, then who will enforce the contract? Who will decide if one side is not acting in good faith, or if there was coercion, or deception? I claim that smart contracts solve none of the issues actually caused by having weak institutions.
- x86x87 4y agoYou cannot enforce the physical world through virtual means. It does not work. What you can enforce is digital goods via virtual means. Depending of what you want to enforce the presence of a central authority in the physical world may still be needed
- acdha 4y agoEven digital goods are pretty limited because you need a situation where both parties honor the system. If that doesn’t fall naturally out of the model you need something like a government enforcement to prevent cheating.
- tbrownaw 4y agoThey're public in a way that written contracts usually aren't. I can at least imagine scenarios where that might matter (even if I'm not at all certain they're realistic).