16 ms·
Governance of next-generation automated economies and societies. It's one thing to make a promise to someone. It's another to marry your business procedures di
by soulofmischief 3y ago
Governance of next-generation automated economies and societies.
It's one thing to make a promise to someone. It's another to marry your business procedures directly to immutable code which guarantees to users, employees and partners that the business operates in the intended and described way.
Most of these benefits require your company to be digital in nature, but many asset-based economic systems can benefit from it.
For example, automatic, trustless guarantee of both quality of transport and payment for shipping goods. Sensors in a transport vehicle continually update a decentralized semi-private blockchain, proving that an item never left a refrigeration state, or was not tampered with.
Automatic payment could be achieved by placing the item inside a locked stationary container at point of delivery and validating through this blockchain that all requirements were met.
A system like this could go even further to make guarantees to the end customer, who could verify at point of sale that their food item remained fresh.
- RcouF1uZ4gsC 3y ago> For example, automatic, trustless guarantee of both quality of transport and payment for shipping goods. I am very, very skeptical your example would work purely with smart co tracts for this. I can think of a bunch of ways where real world interactions would cause all sorts of problems that would have to be sorted out by regular contract law.
- soulofmischief 3y agoMaybe, maybe not. Fedex and others are experimenting nonetheless, so we'll see how many problems it solves vs introduces. https://www.truckinginfo.com/10183205/blockchain-once-overhyped-is-finding-real-transportation-use-cases https://www.truckinginfo.com/10183205/blockchain-once-overhy... https://www.fedex.com/en-us/about/policy/technology-innovation/blockchain.html https://www.fedex.com/en-us/about/policy/technology-innovati... https://www.supplychain247.com/company/blockchain_in_trucking_alliance https://www.supplychain247.com/company/blockchain_in_truckin... A common misconception is that smart contract enthusiasts believe it replaces existing contract law. It doesn't, though in some cases it removes the need for relying on it with digital services. It is meant to enhance the letter of law by adding additional guarantees.