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How does the automatic enforcement work? Specifically, how would the software algorithmically determine whether one party has performed satisfactorily? Determi
by jarrett 13y ago
How does the automatic enforcement work? Specifically, how would the software algorithmically determine whether one party has performed satisfactorily?
Determining whether one party has paid the other is relatively straightforward--compared to other contractual obligations, at least. Whether it relies on a centralized model like a bank, or something decentralized like BitCoin, it's easy to quantify and measure the exchange of money.
What's harder is measuring the other side of the contract. How does the software know that the plumber has satisfactorily installed the customer's new shower? Or that the web developer has built a satisfactory website for the client? Or that the mortgager has encumbered his home in violation of the mortgage?
- dcre 13y agoThe babysitting one is harder than the plumbing, but bear with me. For the plumber's contract, imagine sensors embedded in the pipes or the bathtub that could collect data suggesting that agreed-upon circumstances in fact obtain. Now, if the agreed-upon pattern is something simple like a certain level of water flow, it's easy to see how a criminal plumber would be able to game that system and get out of town with the money (though they probably wouldn't be able to make nearly as much money as a good plumber would). On the other hand, you can imagine a system of sensor-enabled plumbing parts made to fit with each other — shower walls, pipes, showerheads, faucets, etc. — then there could be a signature pattern in all the sensors that is much harder to fake than it is to just achieve honestly. The achievement of that pattern could then trigger the satisfaction of the contract. Babysitting is a lot weirder, but you can imagine the contract working with some combination of factors like: - the babysitter is in fact in the house, and maybe his/her movements fit some expected pattern - the sounds made by the kid match the types of sounds they normally make (or have made with other babysitters) - the kid is in bed by a certain time - the kid (depending on how old he/she is) might actually rate the quality of the babysitter - etc., etc. This is one creepy world I just envisioned.
- vertex-four 13y agoWho runs these sensors? What happens when the person who runs the sensors breaks their end of the bargain?
- woah 13y agoAcme plumbing gets sued in the real courts and possibly faces criminal charges. Meanwhile, plumbing transactions continue to be carried out.
- dinkumthinkum 13y agoSo that's just ridiculous. I'm calling the plumber to fix my pipes. Who do I call to fix my contract enforcement sensors for my pipes? I mean ugh ....
- jarrett 13y agoFor the foreseeable future, the cost-benefit balance weighs strongly against such a system. I believe that to be true for the following reasons: 1. What you're proposing would add a tremendous layer of additional complexity. There are design, manufacturing, and maintenance costs associated with that functionality. 2. Comparatively few business deals end in a dispute. So in the vast majority of cases, the sensors would be a waste. 3. Even if a dispute occurs, there's no guarantee the sensors will resolve it. Either party could easily claim the sensors malfunctioned, or that the programming of the sensors doesn't appreciate the nuances of the case. In which case, you'd have to rely on traditional, human means of dispute resolution.
- dcre 13y agoI totally agree, I was just trying to picture it.