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I agree, I think the website is failing because it doesn't touch on a key topic, one that you mention: How does Ethereum handle non-blockchain items? It's easy
by joosters 11y ago
I agree, I think the website is failing because it doesn't touch on a key topic, one that you mention: How does Ethereum handle non-blockchain items?
It's easy to see how a blockchain might handle money payments (using its own money system, that is), but far less clear how you can encode contracts for real-world items. Like the example website, for instance. Just because a blockchain entry states 'x' doesn't give it any legal weight, and certainly doesn't transfer real world possessions or ownership.
As you mention, one of the key features is verifiers. Say I am selling a website. We need to ensure that the money transfer happens only once I have control of the site. (and presumably, that the site has been built and is complete). We need a trusted party to check that this is so, and the ethereum contract needs to have this verifier written in to it.
- TheMagicHorsey 11y agoTo be honest, half the people working as developers on Ethereum itself fail to bring up this point. I don't know if they didn't think about it, or if they just assume everyone is smart enough to think of it themselves.